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

Defiance Daily Target 2X Short RGTI ETF (NASDAQ:RGTZ) saw a large growth in short interest in October. As of October 15th, there was short interest totaling 272,193 shares, a growth of 454.1% from the September 30th total of 49,123 shares. Currently, 82.5% of the shares of the company are sold short. Based on an average daily volume of 272,570 shares, the short-interest ratio is currently 1.0 days.

Defiance Daily Target 2X Short RGTI ETF Price Performance

Shares of Defiance Daily Target 2X Short RGTI ETF stock traded down $4.26 during trading on Tuesday, hitting $21.76. 63,906 shares of the company’s stock were exchanged, compared to its average volume of 1,251,724. The firm’s 50-day simple moving average is $17.95. Defiance Daily Target 2X Short RGTI ETF has a 52-week low of $11.20 and a 52-week high of $187.40.

Institutional Trading of Defiance Daily Target 2X Short RGTI ETF

An institutional investor recently bought a new stake in Defiance Daily Target 2X Short RGTI ETF stock. IMC Chicago LLC purchased a new position in shares of Defiance Daily Target 2X Short RGTI ETF (NASDAQ:RGTZ) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 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 at the end of the most recent quarter.

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.