Defiance Daily Target 1.75X Long MSTR ETF (NASDAQ:MSTX) Trading Down 11.4% – Here’s Why

Shares of Defiance Daily Target 1.75X Long MSTR ETF (NASDAQ:MSTX) fell 11.4% during mid-day trading on Friday . The stock traded as low as $3.95 and last traded at $4.05. 63,132,748 shares traded hands during mid-day trading, an increase of 8% from the average session volume of 58,704,004 shares. The stock had previously closed at $4.57.

Defiance Daily Target 1.75X Long MSTR ETF Stock Down 11.4%

The company has a market capitalization of $301.60 million, a P/E ratio of -23.82 and a beta of 2.11. The business has a 50 day moving average of $6.13 and a 200 day moving average of $20.87.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Parallel Advisors LLC increased its position in Defiance Daily Target 1.75X Long MSTR ETF by 650.0% in the third quarter. Parallel Advisors LLC now owns 1,500 shares of the company’s stock worth $32,000 after purchasing an additional 1,300 shares during the last quarter. Sterling Investment Advisors Ltd. purchased a new position in shares of Defiance Daily Target 1.75X Long MSTR ETF in the 2nd quarter worth $315,000. Vestor Capital LLC increased its holdings in shares of Defiance Daily Target 1.75X Long MSTR ETF by 1,765.7% in the 2nd quarter. Vestor Capital LLC now owns 66,121 shares of the company’s stock worth $2,669,000 after buying an additional 62,577 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new stake in shares of Defiance Daily Target 1.75X Long MSTR ETF in the 2nd quarter worth about $12,726,000. 4.09% of the stock is owned by hedge funds and other institutional investors.

Defiance Daily Target 1.75X Long MSTR ETF Company Profile

The Defiance Daily Target 2x Long MSTR ETF (MSTX) is an exchange-traded fund that mostly invests in information technology equity. The fund seeks to provide 2x leveraged exposure to the daily share price movement of the MicroStrategy Incorporated (NYSE: MSTR), less fees and expenses. MSTX was launched on Aug 14, 2024 and is issued by Defiance.