Defiance Daily Target 2X Long SMCI ETF (NASDAQ:SMCX) Trading Down 6.8% – Here’s Why

Defiance Daily Target 2X Long SMCI ETF (NASDAQ:SMCX) fell 6.8% during trading on Tuesday . The stock traded as low as $11.71 and last traded at $11.73. 2,489,016 shares traded hands during trading, a decline of 15% from the average session volume of 2,915,503 shares. The stock had previously closed at $12.59.

Defiance Daily Target 2X Long SMCI ETF Trading Down 6.8%

The company has a 50-day moving average of $21.38 and a two-hundred day moving average of $35.90.

Hedge Funds Weigh In On Defiance Daily Target 2X Long SMCI ETF

A hedge fund recently raised its stake in Defiance Daily Target 2X Long SMCI ETF stock. Optiver Holding B.V. boosted its holdings in Defiance Daily Target 2X Long SMCI ETF (NASDAQ:SMCX) by 306.7% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 27,354 shares of the company’s stock after buying an additional 20,628 shares during the period. Optiver Holding B.V. owned 0.48% of Defiance Daily Target 2X Long SMCI ETF worth $1,063,000 as of its most recent SEC filing.

About Defiance Daily Target 2X Long SMCI ETF

The Defiance Daily Target 2X Long SMCI ETF (SMCX) is an exchange-traded fund that mostly invests in information technology equity. The fund seeks to deliver 2x leveraged exposure to the daily share price movement of Super Micro Computer, Inc (SMCI), less fees and expenses, through derivatives like swap agreements SMCX was launched on Aug 21, 2024 and is issued by Defiance.