Short Interest in Defiance Daily Target 2X Short RGTI ETF (NASDAQ:RGTZ) Declines By 38.3%

Defiance Daily Target 2X Short RGTI ETF (NASDAQ:RGTZ) was the target of a large drop in short interest in June. As of June 15th, there was short interest totaling 6,294,109 shares, a drop of 38.3% from the May 31st total of 10,196,089 shares. Approximately 260.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 24,448,755 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Investors Weigh In On Defiance Daily Target 2X Short RGTI ETF

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

Defiance Daily Target 2X Short RGTI ETF Price Performance

NASDAQ:RGTZ traded up $0.30 during trading hours on Thursday, reaching $4.26. The stock had a trading volume of 6,986,870 shares, compared to its average volume of 8,303,133. Defiance Daily Target 2X Short RGTI ETF has a 52 week low of $2.24 and a 52 week high of $37.48. The company’s 50 day moving average price is $7.16.

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.