REX Shares LLC announced the launch of two new MicroSectors exchange traded notes issued by Bank of Montreal (BMO) linked to the MerQube MicroSectors U.S. Travel Index. The MicroSectors Travel 3x Leveraged ETN (NYSE Arca: FLYU) and the MicroSectors Travel -3x Inverse Leveraged ETN (NYSE Arca: FLYD) begin trading today on NYSE Arca.
The MerQube MicroSectors U.S. Travel Index, launched in November 2021, tracks the performance of large U.S.-domiciled and listed companies operating in specified segments of the travel and tourism industry. As of Tuesday, Walt Disney Co., Uber Technologies, Airbnb, Booking Holdings, and Carnival Corp. were the five largest common stocks in the index.
REX, a provider of alternative investment products, continues to see strong demand for hedging and trading tools based on specific segments of the market, such as equity securities of companies in the travel industry.
“We are excited to partner with BMO and MerQube on the launch of the travel equity-focused pair of exchange-traded notes,” said Scott Acheychek, president of REX, in a news release. “The MerQube MicroSectors U.S. Travel Index offers sophisticated investors access to many of the largest companies operating in travel and tourism, which has become a popular industry to trade due COVID-19 and the volatility in travel and tourism stocks.”
Acheychek added: “Since our founding, MicroSectors has focused on innovating the ETP landscape by providing unique exposures to popular investable market segments. We are pleased to build on this objective by adding U.S. Travel to our product lineup.”
For more news, information, and strategy, visit VettaFi.
newETFs.io respects the hard work of others and gives all credit to the remarkable folks at ETFTrends.com. This excerpt/article was pulled from their RSS feed; click here to view the original. Please note that on occasion, the RSS feed will not have the author. When this happens this site defaults the author to "News". Make no mistake, this excerpt/article was not created by newETFs.io, it was simply shared with you.