MicroSectors U.S. Big Banks -3 Inverse Leveraged ETN
BNKD
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Leveraged
- Address
- 900 Third Avenue, 31st Floor New York NY United States of America 10022
- IPO Date
- Feb 20, 2025
- CIK
- 0000927971
- Website
- microsectors.com
- Similar Companies
- Business
- MicroSectors™ U.S. Big Banks -3x Inverse Leveraged ETNs (BNKD) are exchange-traded notes issued by Bank of Montreal that provide sophisticated investors with three times leveraged inverse (-3x) daily participation in the performance of the Solactive MicroSectors™ U.S. Big Banks Index, compounded daily before fees and the decay effect from daily leverage resetting. The underlying index is an equal-weighted equity benchmark tracking 10 of the largest U.S. banking and investment services stocks by free-float market capitalization, including JPMorgan Chase & Co., Bank of America Corp., Wells Fargo & Co., Citigroup Inc., Goldman Sachs Group Inc., Morgan Stanley, PNC Financial Services Group, U.S. Bancorp, Bank of New York Mellon Corp., and Charles Schwab Corp., with monthly rebalancing to equal weights. Launched on February 24, 2025, with a maturity date of February 17, 2045, the ETNs trade on NYSE Arca under ticker BNKD (CUSIP 063679377), with 160,000 units outstanding as of recent market data. Bank of Montreal (BMO), founded in 1817 and headquartered in Montreal, Quebec, with operational headquarters in Toronto, Ontario, Canada, serves as the issuer of the BNKD ETNs through its affiliate BMO Capital Markets Corp., which acts as underwriter. As one of North America's largest diversified financial services organizations and Canada's oldest bank, BMO operates globally across personal and commercial banking, wealth management, and capital markets, with significant presence in Canada, the United States, and other regions via over 1,500 branches. The MicroSectors brand is powered by REX Shares, an innovative provider of exchange-traded products based in Fairfield, Connecticut, specializing in leveraged, inverse, and alternative-strategy ETNs and ETFs. In recent developments, Bank of Montreal closed the acquisition of Burgundy Asset Management Ltd. in fiscal 2025, bolstering its private wealth management capabilities, and received twelve 2025 Canada LSEG Lipper Fund Awards for its mutual funds and ETFs. BMO has continued to expand its U.S. operations following the 2023 acquisition of Bank of the West, with ongoing integration efforts targeting improved profitability and 12% return on equity in its U.S. banking segment by medium term. Additionally, BMO executed reverse splits on select MicroSectors ETNs, including other series in 2024 and 2025, to adjust share values while maintaining trading tickers, reflecting active management of its structured product offerings.