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Bank of Montreal Trading Volume Surges 382% to Rank 433rd
Generated by AI AgentAinvest Market Brief
Friday, Apr 25, 2025 7:53 pm ET1min read
On April 25, 2025,
(BMO) saw a significant increase in trading volume, with a turnover of 1.87 billion, marking a 382.16% rise from the previous day. This surge placed at the 433rd position in terms of trading volume for the day. The stock price of BMO experienced a slight decline, dropping by 0.44%.BMO has announced its intention to redeem all outstanding securities of its MicroSectors™ FANG+™ Index 3× Leveraged ETNs (FNGA) on May 15, 2025. This decision comes as a result of increased costs associated with maintaining the leverage, which has made the current fees no longer reflective of market conditions. The last trading day for FNGA is expected to be May 14, 2025.
In response to the redemption of FNGA, BMO has introduced a replacement product, the MicroSectors™ FANG+™ 3× Leveraged ETNs (FNGB). The new ETNs, which have been trading under the ticker 'FNGB' since February 20, 2025, offer similar 3x leveraged exposure to the NYSE FANG+® Index. The FNGB ETNs feature a discounted Daily Investor Fee of 0.35% per annum until August 19, 2025, after which it will increase to 0.95% per annum.
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