On Wednesday, REX Shares, LLC (REX) announced the launch of two new MicroSectors Exchange Traded Notes issued by the Bank of Montreal (“BMO”) linked to the Solactive FANG Innovation Index (SOLFANGT). MicroSectors Solactive FANG & Innovation 3x Leveraged ETN (BULZ) and MicroSectors Solactive FANG & Innovation -3x Inverse Leveraged ETN will start trading on NYSE Arca.
The Solactive FANG Innovation Index launched in June 2021 and tracks large, U.S.-listed tech and internet/media companies and is designed to represent stocks building tomorrow’s technology today. The index includes eight core components: Apple Inc. (AAPL), Amazon.com, Inc. (AMZN), Facebook, Inc. (FB), Alphabet Inc. (GOOGL), Microsoft Corporation (MSFT), Netflix Inc. (NFLX), NVIDIA Corporation (NVDA), and Tesla Inc. (TSLA).
Additionally, it includes the seven stocks with the largest market capitalization, and 12-month average daily value traded taken from the technology sector, including Advanced Micro Devices, Inc. (AMD), Intel Corporation (INTC), Micron Technology, Inc. (MU), PayPal Holdings, Inc. (PYPL), Salesforce.com, Inc. (CRM), Square, Inc. (SQ), and Zoom Video Communications, Inc. (ZM).
“Technology and innovation are megatrends that are expected to continue to play a central role in the markets in the years to come,” said Kevin Gopaul, President of Exchange Traded Funds, BMO Global Asset Management. “For sophisticated investors, the addition of the Solactive FANG & Innovation ETNs to our leveraged ETN line-up will provide greater choice when investing in these key sectors. We’re pleased to expand our relationship with REX and to continue offering innovative investment solutions to meet evolving investor needs.”
“We are thrilled to partner with BMO and Solactive on another pair of leveraged and inverse leveraged exchange traded notes. We believe the FANG Innovation Index will provide sophisticated investors access to a pure-play U.S. big tech basket,” said Scott Acheychek, President of REX. “MicroSectors focuses on innovating the ETP landscape with the goal of providing access to targeted investment trading vehicles across popular market segments like U.S. energy, U.S. large cap banks, and now U.S. big tech.”
For more information, visit www.rexshares.com or www.microsectors.com.
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