Short Interest in Defiance Daily Target 2X Short RGTI ETF (NASDAQ:RGTZ) Expands By 822.2%

Defiance Daily Target 2X Short RGTI ETF (NASDAQ:RGTZ) saw a significant growth in short interest in May. As of May 29th, there was short interest totaling 10,196,089 shares, a growth of 822.2% from the May 14th total of 1,105,599 shares. Approximately 421.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 37,772,881 shares, the short-interest ratio is presently 0.3 days.

Institutional Investors Weigh In On Defiance Daily Target 2X Short RGTI ETF

An institutional investor recently bought a new position in Defiance Daily Target 2X Short RGTI ETF stock. IMC Chicago LLC bought a new stake in Defiance Daily Target 2X Short RGTI ETF (NASDAQ:RGTZ) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

Defiance Daily Target 2X Short RGTI ETF Stock Down 15.3%

Shares of NASDAQ:RGTZ traded down $0.65 during midday trading on Thursday, reaching $3.59. The company’s stock had a trading volume of 15,374,516 shares, compared to its average volume of 7,902,104. Defiance Daily Target 2X Short RGTI ETF has a 1 year low of $2.24 and a 1 year high of $37.48. The company’s 50 day moving average is $10.23.

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.