On June 4, MicroSectors 3x Long FANG+ Index ETN declined 8.55% in regular trading, trading at $31.70/share, with trading volume of $63.78 million.

On the news front, the Federal Reserve released its national economic survey report on June 3, indicating that rising energy prices are pushing inflation levels higher. The report weighed on market sentiment, with all three major U.S. indices closing lower — the Dow fell 1.21%, the S&P 500 dropped 0.74%, and the Nasdaq declined 0.89%. Large-cap tech stocks bore significant pressure, with the Magnificent Seven index falling 1.74%. Among key constituents, NVIDIA and Microsoft fell over 3%, Amazon dropped more than 2%, and Apple declined over 1%. As a 3x leveraged product tracking the FANG+ index, the ETN amplified the underlying index losses by approximately three times.

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 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.)