MicroSectors™ launches US Tr – GuruFocus.com
NEW YORK, June 21, 2022 /PRNewswire/ – REX Shares, LLC (“REX”) today announced the launch of two new MicroSectors Exchange Traded Notes (ETNs) issued by Bank of Montreal (BMO) linked to the MerQube MicroSectors US Travel Index (ticker: MQUSTRAV). MicroSectors Travel 3x leveraged ETN (ticker: FLYU) and MicroSectors Travel -3x reverse leveraged ETN (ticker: FLYD) will begin trading tomorrow on NYSE Arca.
The MerQube MicroSectors US Travel Index, launched in November 2021, tracks the performance of large US-domiciled and listed companies operating in specific 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 market segments, such as equity securities of companies in the travel industry.
“We are thrilled to partner with BMO and MerQube for the launch of the pair of equity-focused exchange-traded tickets in travel,” said Scott Acheychek, President of the REX. “The MerQube MicroSectors US Travel Index provides sophisticated investors with access to many of the largest companies operating in travel and tourism, which has become a popular industry for trading due to COVID-19 and volatile markets. travel and tourism stocks,” Acheychek added. “Since our inception, MicroSectors has focused on innovating the ETP landscape by providing unique exposures to popular investment market segments. We are pleased to continue this goal by adding US Travel to our product line.”
About REX shares
Founded in 2015, REX Shares (“REX”) is an independent ETP provider based in Miami, Florida. As ETP architects, the REX team creates investment vehicles that solve a series of specific challenges in investors’ portfolios. The company is steeped in decades of structuring and creating inventive exchange-traded product solutions.
For more information, please visit www.rexshares.com or www.microsectors.com.
About BMO Financial Group
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider – the 8th largest bank, by assets, in North America. With total assets of $1.04 trillion as of April 30, 2022 and a diverse and highly engaged team of employees, BMO offers a wide range of personal and commercial banking, wealth management and investment banking products and services. investment to more than 12 million customers and leads through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.
ETNs are senior unsecured obligations of BMO.
The suitability of the investment must be determined individually for each investor, and ETNs may not be suitable for all investors. This information is not intended to provide and should not be considered as providing accounting, legal, regulatory or tax advice. Investors should consult their own financial advisers on these matters.
ETNs are intended to be day-to-day trading tools for sophisticated investors to manage day-to-day trading risks as part of an overall diversified portfolio. They are designed to achieve their stated investment objectives on a daily basis. Returns of ETNs over longer periods can, and most likely, differ significantly from the return of a direct long or short investment in the index.
BMO, the issuer of the ETNs, has filed a registration statement (including a pricing supplement, product supplement, prospectus supplement and prospectus) with the Securities and Exchange Commission (the “SEC”) regarding each of the offers to which this press release refers. Please read these documents and other documents relating to these offers that BMO has filed with the SEC for more complete information about BMO and these offers. These documents may be obtained free of charge by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, the Bank of Montrealany agent or broker participating in such offerings will arrange to send the applicable pricing supplement, product supplement, prospectus supplement and prospectus if you request them by calling toll-free at 1-877- 369-5412.
MerQube does not sponsor, endorse, sell, promote or manage securities offered by third parties which seek to provide a return on investment based on the performance of the index. MerQube does not guarantee that the Notes or any other investment product based on the Index will accurately track the performance of the Index or provide positive investment returns. MerQube is not an investment adviser and MerQube makes no representation regarding the advisability of investing in such securities.
MerQube and its third party data providers and licensors (collectively the “MerQube Parties”) do not warrant the accuracy, completeness, timeliness or availability of the Index data (the “Content”). The MerQube Parties are not responsible for any errors or omissions, whatever the cause, as to the results obtained from the use of the Content. THE CONTENT IS PROVIDED “AS IS”, AND THE MERQUBE PARTIES DISCLAIM ALL EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, BUGS, SOFTWARE ERRORS OR DEFECTS, OR THAT THE OPERATION OF THE CONTENT WILL BE UNINTERRUPTED. In no event will the MerQube parties be liable to any party for any direct, indirect, incidental, exemplary, compensatory, punitive, special or consequential damages, cost, expense, legal fees or loss (including, without limitation, loss of revenue or loss of profits and opportunity costs) in connection with any use of the Content, even if you are advised of the possibility of such damages.
MicroSectors™ and REX™ are registered trademarks of REX. Trademarks have been licensed for use for certain purposes by Bank of Montreal. ETNs are not sponsored, endorsed, sold or promoted by REX or any of its affiliates or third party licensors (collectively, the “REX Index Parties”). The REX Index Parties make no representations or warranties, express or implied, to the owners of the ETNs or any member of the public regarding the advisability of investing in securities generally or the ETNs in particular or the ability to the index to follow the general performance of the market. The only relationship of the parties to the REX index with the Bank of Montreal with respect to the Index is the license to the Index and certain trademarks, service marks and/or trade names of the REX Index Parties. The REX Index Parties are not responsible for and have not participated in the determination of the price and amount of the ETNs or at the time of the issue or sale of the ETNs or in the determination or calculation of the equation by which ETNs must be converted into cash. The REX Index Parties have no obligation or liability in connection with the administration, marketing or trading of the ETNs. The inclusion of a security in an index is not a recommendation by the parties to the REX Index to buy, sell or hold such security, nor is it considered investment advice. .
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SOURCE BMO Financial Group