MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN (NYSEARCA:OILU) Stock Price Down 4.7% – Time to Sell?

MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN (NYSEARCA:OILU) fell 4.7% on Monday . The stock traded as low as $37.27 and last traded at $37.34. 162,168 shares traded hands during trading, an increase of 41% from the average session volume of 115,332 shares. The stock had previously closed at $39.20.

MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN Price Performance

The firm’s 50 day simple moving average is $33.71 and its 200-day simple moving average is $36.47.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN stock. Bogart Wealth LLC bought a new position in shares of MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN (NYSEARCA:OILU) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,500 shares of the company’s stock, valued at approximately $47,000.

MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN Company Profile

The MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN (OILU) is an exchange-traded fund that mostly invests in energy equity. The fund provides 3x daily leveraged exposure to a tier-weighted index of US firms involved in oil and gas exploration and production. OILU was launched on Nov 12, 2021 and is issued by REX Microsectors.