Trade MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETNs - NRGD CFD

MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETNs Company profile

The term ‘MicroSectors’ indicates concentrated exposure to 10 stocks in a given sub-sector, or ‘micro sector’. The Solactive MicroSectors US Big Oil Index tracks the prices of 10 US stocks in the oil and gas exploration sector.

Launched on 12 March 2019, the index constituents are: Anadarko Petroleum, ConocoPhillips, Chevron, EOG Resources, Marathon Petroleum, Occidental Petroleum, Phillips 66, Pioneer Natural Resources, Valero Energy and ExxonMobil. These 10 companies in the energy sector are the ones with the largest free-float market capitalisation.

A means to a leveraged short-term trade in volatile markets, Exchange-traded notes (ETNs) are unsecured, senior debt security by an underwriting bank. ETNs are constructed with the intent to facilitate daily trading for experienced investors.

Issued by the BMO Capital Group, NRGD provides an inverse leveraged take on the performance of the MicroSector’s US Big Oil Index. It tracks three times the inverse of this index, and levies charges for providing such exposure to investors. The ETN rebalances daily and is dependent on the movements of the volatile prices of the energy and oil industry. As such, it’s not intended for investors with long-term investment horizons.

On 15 February 2022, the MicroSectors US Big Oil Index – 3X Inverse Leveraged ETNs (NRGD) – opened at $3.64. Within intraday trading, it fluctuated to the high of $3.73 and low of $3.50. At a close price of $3.5 on 15 February 2022, compared to 14 February's close price, the ETN has fallen by 3.85%.

Data from Capital.com showed 100% bullish and 0% bearish trader sentiment. The data was calculated automatically, based on open positions for NRGD on the platform and should not be considered as an incentive to trade the asset.

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