REX Shares has launched two new MicroSectors ETNs issued by Bank of Montreal, linked to the MerQube MicroSectors U.S. Travel Index (ticker: MQUSTRAV).
MicroSectors Travel 3x Leveraged ETNs (ticker: FLYU) and MicroSectors Travel -3x Inverse Leveraged ETNs (ticker: FLYD) will trade 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 the date of this release, Walt Disney Company, Uber Technologies, Inc., Airbnb, Inc., Booking Holdings Inc., and Carnival Corporation 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 exchange-traded notes,” says Scott Acheychek, President of REX. “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.”