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

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

Defiance Daily Target 1.75X Long MSTR ETF Price Performance

The stock has a market capitalization of $301.60 million, a price-to-earnings ratio of -23.82 and a beta of 2.11. The stock’s 50 day simple moving average is $6.13 and its 200-day simple moving average is $20.76.

Institutional Investors Weigh In On Defiance Daily Target 1.75X Long MSTR ETF

Several institutional investors and hedge funds have recently modified their holdings of MSTX. BNP Paribas Financial Markets acquired a new position in Defiance Daily Target 1.75X Long MSTR ETF during the second quarter worth $12,726,000. Vestor Capital LLC boosted its stake in shares of Defiance Daily Target 1.75X Long MSTR ETF by 1,765.7% during the 2nd quarter. Vestor Capital LLC now owns 66,121 shares of the company’s stock worth $2,669,000 after acquiring an additional 62,577 shares in the last quarter. Sterling Investment Advisors Ltd. acquired a new position in shares of Defiance Daily Target 1.75X Long MSTR ETF during the 2nd quarter valued at about $315,000. Finally, Parallel Advisors LLC raised its stake in shares of Defiance Daily Target 1.75X Long MSTR ETF by 650.0% in the 3rd quarter. Parallel Advisors LLC now owns 1,500 shares of the company’s stock valued at $32,000 after acquiring an additional 1,300 shares in the last quarter. Institutional investors and hedge funds own 4.09% of the company’s stock.

About Defiance Daily Target 1.75X Long MSTR ETF

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.