Fairfield-headquartered REX Shares LLC has debuted two MicroSectors Exchange Traded Notes (ETNs) issued by Bank of Montreal (BMO) linked to the performance of the SPDR Gold Shares ETF (NYSEARCA: GLD).
The MicroSectors begin trading today on the NYSE Arca as Gold 3x Leveraged ETNs (ticker: SHNY) and MicroSectors Gold -3x Inverse Leveraged ETNs (ticker: DULL). According to the company, the new MicroSectors lineup of ETNs will include 3X leveraged and -3X leveraged inverse exposure to both physical gold and gold miners.
“We are excited to expand our gold related offerings beyond the pair of gold miner ETNs with a new pair of leveraged and inverse leveraged exchange-traded notes linked to an exchange traded fund that invests in physical gold,” said Scott Acheychek, CEO of REX. “The new gold ETNs will offer investors 3x leverage and -3x inverse leverage exposure to physical gold. We hope that sophisticated investors will use these trading products as a way to tactically trade gold.”
This is the second set of MicroSectors ETNs introduced by REX Shares this month. Last week, the company launched the MicroSectors Energy 3x Leveraged ETNs (ticker: WTIU) and MicroSectors Energy -3x Inverse Leveraged ETNs (ticker:WTID).
