Defiance Daily Target 2X Short RGTI ETF (NASDAQ:RGTZ) Sees Large Decline in Short Interest

by · The Markets Daily

Defiance Daily Target 2X Short RGTI ETF (NASDAQ:RGTZ – Get Free Report) was the target of a significant decline in short interest in June. As of June 30th, there was short interest totaling 243,493 shares, a decline of 96.1% from the June 15th total of 6,294,109 shares. Currently, 67.6% of the company’s shares are short sold. Based on an average daily trading volume, of 10,686,127 shares, the days-to-cover ratio is presently 0.0 days.

Hedge Funds Weigh In On Defiance Daily Target 2X Short RGTI ETF

A hedge fund recently bought a new stake in Defiance Daily Target 2X Short RGTI ETF stock. IMC Chicago LLC purchased a new stake in Defiance Daily Target 2X Short RGTI ETF (NASDAQ:RGTZ – Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 9,206 shares of the ETF’s stock, valued at approximately $250,000. IMC Chicago LLC owned about 0.38% of Defiance Daily Target 2X Short RGTI ETF as of its most recent SEC filing.

Defiance Daily Target 2X Short RGTI ETF Stock Performance

Shares of RGTZ traded up $0.23 on Friday, hitting $4.81. 3,283,743 shares of the stock traded hands, compared to its average volume of 8,167,041. Defiance Daily Target 2X Short RGTI ETF has a 1 year low of $2.24 and a 1 year high of $37.48. The firm has a 50 day moving average price of $5.69.

Defiance Daily Target 2X Short RGTI ETF (NASDAQ: RGTZ) is an exchange-traded fund offered by Defiance ETFs that provides investors with leveraged, inverse exposure to the RGTI benchmark on a daily basis. As its name indicates, the fund is designed to deliver approximately -200% of the daily performance of the RGTI index before fees and expenses, giving traders and investors a way to profit from—or hedge against—daily declines in that reference benchmark.

To achieve its investment objective, RGTZ employs derivatives such as swaps, futures contracts and options, and may use other financial instruments to obtain the targeted short and leveraged exposure.

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