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

Defiance Daily Target 2X Short RGTI ETF (NASDAQ:RGTZ) was the target of a large drop in short interest in the month of September. As of September 30th, there was short interest totaling 49,123 shares, a drop of 86.5% from the September 15th total of 365,101 shares. Currently, 12.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 506,952 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Defiance Daily Target 2X Short RGTI ETF stock. IMC Chicago LLC bought a new stake in Defiance Daily Target 2X Short RGTI ETF (NASDAQ:RGTZ) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 9,206 shares of the ETF’s stock, valued at approximately $250,000. IMC Chicago LLC owned 0.38% of Defiance Daily Target 2X Short RGTI ETF as of its most recent filing with the Securities & Exchange Commission.

Defiance Daily Target 2X Short RGTI ETF Trading Up 1.0%

RGTZ opened at $18.99 on Friday. Defiance Daily Target 2X Short RGTI ETF has a one year low of $11.20 and a one year high of $187.40. The business’s fifty day moving average price is $16.37.

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.