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

Defiance Daily Target 2X Short RGTI ETF (NASDAQ:RGTZ) was the target of a large growth in short interest during the month of 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. Based on an average daily volume of 37,772,881 shares, the short-interest ratio is currently 0.3 days. Currently, 421.3% of the shares of the company are short sold.

Defiance Daily Target 2X Short RGTI ETF Price Performance

Shares of NASDAQ:RGTZ opened at $4.16 on Wednesday. Defiance Daily Target 2X Short RGTI ETF has a 52-week low of $2.24 and a 52-week high of $37.48. The firm has a 50-day moving average price of $10.38.

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 acquired a new position in shares of Defiance Daily Target 2X Short RGTI ETF (NASDAQ:RGTZ) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 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.