(FNGG) Direxion Daily Select Large - Ratings and Ratios

The Direxion Daily Select Large Caps & FANGs Bull 2X Shares (NYSE ARCA:FNGG) is a leveraged exchange-traded fund (ETF) designed to provide twice the daily return of an equal-dollar weighted index of 10 high-trading-volume growth stocks from technology and tech-enabled sectors. The fund achieves its 2X daily leverage through investments in swap agreements, securities, and ETFs tracking the underlying index. The ETF is non-diversified, meaning it can concentrate its holdings in fewer securities, which may increase volatility but also amplify potential returns. The funds strategy is tailored for short-term traders seeking magnified exposure to a narrow basket of high-growth tech stocks.

From a technical standpoint, FNGG is currently trading below its 20-day and 50-day simple moving averages (SMAs), which are at 186.37 and 186.84, respectively. However, it remains above its 200-day SMA of 155.37, signaling mixed trends. The Average True Range (ATR) of 8.59 reflects moderate volatility. With an average 20-day volume of 33,916 shares, liquidity is sufficient for most traders but not exceptionally high. The funds assets under management (AUM) stand at $90.13 million, indicating a modest but dedicated investor base.