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BMO Announces Ticker Symbol Change

Bank of Montreal (BMO) has decided to change the ticker symbol for its MicroSectors™ FANG+™ 3× Leveraged Exchange-Traded Notes (ETNs). This significant change is anticipated to occur on June 24, 2025. The ETNs, currently trading under the ticker symbol "FNGB" on the NYSE Arca, will be updated to the new ticker symbol "FNGU."

This adjustment follows the guidelines established by NYSE Arca, which includes a required cooling-off period before reusing the ticker symbol. Thus, the new designation reflects a strategic move by BMO to enhance its portfolio offerings for investors.

Understanding the ETNs

The MicroSectors™ FANG+™ 3× Leveraged ETNs are not typical long-term investments but rather instruments designed for sophisticated investors to leverage daily trading opportunities. The ETNs offer a 3× leveraged long exposure to the NYSE FANG+® Index, which comprises prominent tech stocks known for their rapid growth and performance.

Investors should understand that because these ETNs are intended for daily trading, the returns they yield can vary significantly over time. This product is exceptionally sensitive to changes in the Index level and is subject to high volatility. Therefore, potential investors must carefully monitor their positions, particularly if they plan to hold these ETNs for more than one trading day.

Investment Strategy

BMO has stressed that the ETNs are structured to achieve their investment objectives daily and are primarily aimed at active traders who can manage the associated risks. This means investors engaging with these ETNs must have a robust understanding of market dynamics and monitor them on an intraday basis. The risks here are compounded by the very nature of leveraged products, which could lead to substantial gains or losses in a short time span.

Before making investment decisions, BMO recommends that investors thoroughly read the pricing supplement and prospectus related to the ETNs to grasp their complexity and associated risks fully. Information regarding these documents is accessible via the SEC’s EDGAR website, as well as through BMO’s own product sites.

Background on BMO and REX Shares

Bank of Montreal has been an influential player in the financial sector for over two centuries, catering to millions of customers across North America. Its prominence in retail and commercial banking, as well as investment services, underscores its commitment to creating value in business and society.

In partnership with REX Shares, which specializes in innovative exchange-traded products, BMO continues to expand its offering in investment tools tailored for sophisticated investors seeking diverse exposure through products like the MicroSectors™ ETNs.

For an in-depth look at the forthcoming changes and their impacts, investors and interested parties can visit BMO’s official website or the MicroSectors platform. BMO remains committed to assisting its investors with these evolving financial products designed for modern trading environments. As the financial landscape continues to shift, BMO aims to provide robust options that align with the strategies and demands of today’s traders.

This announcement by BMO sets the stage for adjustments in trading strategies among sophisticated investors, highlighting the importance of active management in leveraged products.