Defiance Daily Target 1.5X Short MSTR ETF (NASDAQ:SMST) Shares Down 7% – Time to Sell?

Shares of Defiance Daily Target 1.5X Short MSTR ETF (NASDAQ:SMST) were down 7% on Thursday . The stock traded as low as $72.12 and last traded at $72.65. Approximately 322,363 shares traded hands during mid-day trading, a decline of 33% from the average daily volume of 482,911 shares. The stock had previously closed at $78.15.

Defiance Daily Target 1.5X Short MSTR ETF Stock Performance

The business has a 50 day moving average price of $81.58 and a two-hundred day moving average price of $53.98.

Institutional Investors Weigh In On Defiance Daily Target 1.5X Short MSTR ETF

A hedge fund recently bought a new stake in Defiance Daily Target 1.5X Short MSTR ETF stock. Jump Financial LLC purchased a new position in Defiance Daily Target 1.5X Short MSTR ETF (NASDAQ:SMST) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 26,480 shares of the company’s stock, valued at approximately $2,457,000. Jump Financial LLC owned about 7.36% of Defiance Daily Target 1.5X Short MSTR ETF as of its most recent SEC filing.

Defiance Daily Target 1.5X Short MSTR ETF Company Profile

The Defiance Daily Target 2x Short MSTR ETF (SMST) is an exchange-traded fund that mostly invests in information technology equity. The fund seeks to provide 2x inverse exposure to the daily share price movement of MicroStrategy Incorporated (NYSE: MSTR), less fees and expenses. SMST was launched on Aug 20, 2024 and is issued by Defiance.