Defiance Daily Target 2X Long SMCI ETF (NASDAQ:SMCX) Shares Up 6.2% – Should You Buy?

Defiance Daily Target 2X Long SMCI ETF (NASDAQ:SMCX)’s share price shot up 6.2% on Wednesday . The company traded as high as $9.46 and last traded at $8.86. 4,352,168 shares traded hands during trading, an increase of 61% from the average session volume of 2,695,698 shares. The stock had previously closed at $8.34.

Defiance Daily Target 2X Long SMCI ETF Stock Up 6.2%

The company’s fifty day simple moving average is $19.38 and its 200 day simple moving average is $39.10.

Institutional Trading of Defiance Daily Target 2X Long SMCI ETF

Several institutional investors and hedge funds have recently bought and sold shares of SMCX. Simplex Trading LLC purchased a new stake in Defiance Daily Target 2X Long SMCI ETF in the fourth quarter worth about $95,000. HRT Financial LP purchased a new stake in Defiance Daily Target 2X Long SMCI ETF in the fourth quarter worth about $228,000. Finally, Optiver Holding B.V. lifted its holdings in Defiance Daily Target 2X Long SMCI ETF by 306.7% in the third quarter. Optiver Holding B.V. now owns 27,354 shares of the company’s stock worth $1,063,000 after buying an additional 20,628 shares during the period.

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.