MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN (NYSEARCA:OILU) Shares Down 4.4% – Time to Sell?

MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN (NYSEARCA:OILU)’s share price dropped 4.4% during mid-day trading on Monday . The stock traded as low as $28.74 and last traded at $28.88. Approximately 133,000 shares changed hands during mid-day trading, an increase of 17% from the average daily volume of 113,578 shares. The stock had previously closed at $30.20.

MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN Stock Down 6.7 %

The firm’s 50 day moving average is $34.19 and its 200 day moving average is $35.47.

Institutional Inflows and Outflows

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

About MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN

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.