Defiance Daily Target 2X Long SOFI ETF (NASDAQ:SOFX) Sees Large Growth in Short Interest

Defiance Daily Target 2X Long SOFI ETF (NASDAQ:SOFX) was the target of a large growth in short interest in July. As of July 31st, there was short interest totaling 1,345,940 shares, a growth of 480.3% from the July 15th total of 231,958 shares. Based on an average daily volume of 1,315,684 shares, the days-to-cover ratio is currently 1.0 days. Approximately 15.8% of the shares of the company are sold short.

Defiance Daily Target 2X Long SOFI ETF Stock Up 5.1%

Shares of SOFX traded up $0.49 during mid-day trading on Thursday, hitting $10.08. 1,429,526 shares of the company’s stock were exchanged, compared to its average volume of 1,103,375. Defiance Daily Target 2X Long SOFI ETF has a 52 week low of $6.74 and a 52 week high of $55.48. The stock’s 50-day simple moving average is $9.63 and its 200-day simple moving average is $11.51. The firm has a market cap of $85.68 million, a price-to-earnings ratio of 23.00 and a beta of 4.37.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jump Financial LLC acquired a new stake in Defiance Daily Target 2X Long SOFI ETF during the fourth quarter worth about $233,000. Susquehanna International Group LLP raised its position in shares of Defiance Daily Target 2X Long SOFI ETF by 36.8% in the 3rd quarter. Susquehanna International Group LLP now owns 91,432 shares of the company’s stock valued at $3,547,000 after buying an additional 24,575 shares in the last quarter. UBS Group AG lifted its holdings in shares of Defiance Daily Target 2X Long SOFI ETF by 17,912.4% during the 3rd quarter. UBS Group AG now owns 168,596 shares of the company’s stock worth $6,540,000 after acquiring an additional 167,660 shares during the period. Finally, Optiver Holding B.V. boosted its position in shares of Defiance Daily Target 2X Long SOFI ETF by 570.2% during the 1st quarter. Optiver Holding B.V. now owns 53,788 shares of the company’s stock worth $502,000 after acquiring an additional 45,762 shares in the last quarter.

About Defiance Daily Target 2X Long SOFI ETF

The Defiance Daily Target 2X Long SOFI ETF (SOFX) is an exchange-traded fund that mostly invests in financials equity. The fund seeks to deliver 2x leveraged exposure to the daily share price movement of SoFi Technologies, Inc (SOFI), less fees and expenses, through derivatives like swap agreements SOFX was launched on Jan 15, 2025 and is issued by Defiance.