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

Defiance Daily Target 2X Short RGTI ETF (NASDAQ:RGTZ) saw a large 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. Based on an average daily trading volume, of 10,686,127 shares, the short-interest ratio is currently 0.0 days. Currently, 67.6% of the shares of the stock are sold short.

Defiance Daily Target 2X Short RGTI ETF Price Performance

Shares of NASDAQ RGTZ traded up $0.23 during midday trading on Friday, hitting $4.81. The stock had a trading volume of 3,283,743 shares, compared to its average volume of 8,167,041. The company’s 50 day simple moving average is $5.69. Defiance Daily Target 2X Short RGTI ETF has a 1 year low of $2.24 and a 1 year high of $37.48.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Defiance Daily Target 2X Short RGTI ETF stock. IMC Chicago LLC bought a new position in shares of Defiance Daily Target 2X Short RGTI ETF (NASDAQ:RGTZ) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 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 (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.