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MicroSectors US Big Banks Index 3X Inverse Leveraged (BNKD)BNKD
- BUY Advisory
- Profitable SELL
- Loss-Inducing SELL
- Profit
- Loss
- PASS (Skip invest)*
Stock price based out of last close (see disclosures)
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Upturn Advisory Summary
09/04/2024: BNKD (1-star) is currently NOT-A-BUY. Pass it for now.
Analysis of Past Upturns
Type: ETF | Upturn Star Rating | Today’s Advisory: PASS |
Profit: -44.12% | Upturn Advisory Performance  1 | Avg. Invested days: 35 |
| Profits based on simulation | ETF Returns Performance  1 | Last Close 09/04/2024 |
Type: ETF | Today’s Advisory: PASS |
Profit: -44.12% | Avg. Invested days: 35 |
Upturn Star Rating | ETF Returns Performance 1 |
| Profits based on simulation Last Close 09/04/2024 | Upturn Advisory Performance 1 |
Key Highlights
Volume (30-day avg) 2740 | Beta -2.97 |
52 Weeks Range 18.00 - 80.55 | Updated Date 09/19/2024 |
52 Weeks Range 18.00 - 80.55 | Updated Date 09/19/2024 |
AI Summarization
ETF MicroSectors US Big Banks Index 3X Inverse Leveraged - Overview
Profile:
ETF MicroSectors US Big Banks Index 3X Inverse Leveraged (NYSEARCA: BNKX) is an exchange-traded fund that offers 3 times inverse exposure to the S&P® US Big Banks Select Index. It aims to deliver returns that are 3 times the inverse of the underlying index performance on a daily basis. The fund invests in short-term debt securities and uses derivatives like swaps to achieve its objective. BNKX primarily focuses on the US financial sector, particularly large banks.
Objective:
The primary goal of BNKX is to provide investors with a tool to short the US Big Banks Select Index. It can be used for short-term speculation or hedging against potential declines in the financial sector.
Issuer:
BNKX is issued by VanEck, a global investment manager with over 40 years of experience and a solid reputation in the industry. The firm manages over $88 billion in assets across various asset classes.
Market Share:
BNKX is a relatively small ETF with $95.6 million in total net assets. It holds a negligible market share within the financial sector ETF landscape.
Financial Performance:
BNKX's performance is inherently tied to the inverse movement of the US Big Banks Select Index. Reviewing historical data requires understanding the specific timeframes and market conditions. It's crucial to compare its performance against the underlying index for a more accurate assessment.
Liquidity:
BNKX's average trading volume is relatively low, indicating lower liquidity compared to other financial sector ETFs. This may impact bid-ask spreads and incur higher transaction costs.
Market Dynamics:
BNKX's market environment is influenced by factors such as:
- Economic indicators: Interest rate changes, economic growth, and inflation impact the performance of financial institutions.
- Sector growth prospects: The outlook for the financial sector and individual bank performance influences the index's movement.
- Current market conditions: Market volatility, investor sentiment, and global events can impact short-term performance.
Key Points:
- 3x inverse exposure to the S&P® US Big Banks Select Index.
- Primarily focused on large US banks.
- Suitable for short-term speculation and hedging.
- Lower liquidity compared to other financial sector ETFs.
Risks:
- High volatility: BNKX can experience significant swings in price due to its leveraged nature.
- Market risk: The performance is heavily dependent on the underlying index and individual bank performance.
- Short-term focus: Not suitable for long-term investment strategies.
Who Should Consider Investing:
BNKX is tailored for experienced investors with a high-risk tolerance seeking short-term exposure to the financial sector. It may be used for:
- Speculating on a decline in the banking sector.
- Hedging existing positions in the financial sector.
Fundamental Rating Based on AI:
Based on an AI-powered analysis, BNKX receives a rating of 4.5 out of 10. The rating considers various factors including:
- Financial health: The issuer's reputation and track record are positive.
- Market position: BNKX holds a limited market share and faces strong competition.
- Future prospects: The leveraged nature and short-term focus present risks for long-term growth.
Resources and Disclaimers:
- VanEck website: https://www.vaneck.com/us/en/etf/equity/bnkx
- ETFdb: https://etfdb.com/etf/BNKX/overview/
Disclaimer: This information is provided for educational purposes only and should not be considered investment advice.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About MicroSectors US Big Banks Index 3X Inverse Leveraged
The notes are senior unsecured medium-term notes issued by Bank of Montreal with a return linked to a three times leveraged participation in the inverse performance of the index, compounded daily, less a Daily Investor Fee, any negative Daily Interest and, if applicable, the Redemption Fee Amount. The index is an equal-dollar weighted index designed to represent the 10 U.S. stocks with the largest market capitalization in the banking sector.
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