The notes seek to deliver three-times the daily gains or losses of a semiconductor benchmark and are intended for sophisticated short-term traders.
Bank of Montreal (BMO) and Rex Shares have launched two exchange-traded notes (ETNs) offering amplified exposure to the semiconductor sector, with trading beginning on the Cboe BZX Exchange on 4 August. Both ETNs are scheduled to mature on 31 July 2046 The products, the MicroSectors 3x Long Semiconductor ETNs (SMHU) and MicroSectors -3x Short Semiconductor ETNs (SMHD), seek to deliver either three-times leveraged long or inverse exposure to the daily performance of the VettaFi Semiconductor