Direxion Daily NYSE FANG+ Bull 2X ETF (FNGG) Stock Price, Quote, News & History | Benzinga

The Fund, under normal circumstances, invests at least 80% of its assets in the securities that comprise the Index. The Index is an equal weighted index designed to include Facebook, Apple, Amazon, Netflix and (Alphabets) Google (i.e., the FANGs) and similar highly-traded growth stocks of technology and tech-enabled companies, such as Microsoft, from the information technology, communication services and consumer discretionary sectors. The Index consists of 20 stocks or depository receipts that are listed on a U.S. Exchange that have a minimum of a $5 billion market capitalization and a 6-month average daily trading value of at least $50 million. The Index selects companies whose economic fortunes are tied to technologies such as social networking, autonomous driving, electric vehicles, smartphones, mobile payments, e-commerce, online games, streaming media, online entertainment, cryptocurrencies, blockchain, big data, artificial intelligence, machine learning, digital advertising, cloud services and other innovative technologies. The Index is reconstituted and rebalanced quarterly.