Defiance Daily Target 2X Short RGTI ETF (NASDAQ:RGTZ) Stock to Reverse Split on Thursday, September 10th

Defiance Daily Target 2X Short RGTI ETF (NASDAQ:RGTZ)’s stock is going to reverse split on Thursday, September 10th. The 1-5 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, September 9th.

Defiance Daily Target 2X Short RGTI ETF Stock Up 1.6%

NASDAQ RGTZ traded up $0.06 on Wednesday, reaching $3.77. The company had a trading volume of 4,189,063 shares, compared to its average volume of 7,248,639. Defiance Daily Target 2X Short RGTI ETF has a fifty-two week low of $2.24 and a fifty-two week high of $37.48. The business has a 50 day moving average price of $4.17.

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

A hedge fund recently bought a new stake 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 its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent SEC filing.

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.