On June 9, MicroSectors 3x Long FANG+ Index ETN (FNGU) declined 8.05% in regular trading, trading at $25.6/share, with trading volume of $127 million.

On the news front, large-cap U.S. technology stocks continued their recent pullback, with FANG+ index constituents broadly under pressure. Rising oil prices and U.S. Treasury yields have intensified inflation concerns, prompting investors to aggressively take profits following a prior 9-session winning streak in both the Nasdaq and S&P 500. High-valuation technology names have borne the brunt of selling, with prior sessions showing NVIDIA down 3.62%, Microsoft down 3.17%, Amazon down 2.53%, Netflix down 2.17%, and Apple down 1.57%.

The ETN's triple leverage mechanism has further amplified the underlying index losses, with the product recording multiple consecutive trading days of 8%+ intraday declines as the rotation out of growth stocks accelerated.

The notes are intended to be daily trading tools for sophisticated investors to manage daily trading risks as part of an overall diversified portfolio. The underlying index is an equal-dollar weighted index designed to represent a segment of the technology and consumer discretionary sectors consisting of highly-traded growth stocks of technology and tech-enabled companies.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)