Defiance Daily Target 2X Short RGTI ETF (NASDAQ:RGTZ) Sees Significant Drop in Short Interest

Defiance Daily Target 2X Short RGTI ETF (NASDAQ:RGTZ) saw a significant decline in short interest in the month of June. As of June 30th, there was short interest totaling 243,493 shares, a decline of 96.1% from the June 15th total of 6,294,109 shares. Based on an average daily volume of 10,686,127 shares, the short-interest ratio is presently 0.0 days. Currently, 67.6% of the company’s shares are sold short.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Defiance Daily Target 2X Short RGTI ETF stock. IMC Chicago LLC acquired a new position in Defiance Daily Target 2X Short RGTI ETF (NASDAQ:RGTZ) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 9,206 shares of the ETF’s stock, valued at approximately $250,000. IMC Chicago LLC owned 0.38% of Defiance Daily Target 2X Short RGTI ETF as of its most recent filing with the Securities & Exchange Commission.

Defiance Daily Target 2X Short RGTI ETF Price Performance

NASDAQ:RGTZ traded up $0.23 on Friday, hitting $4.81. The stock had a trading volume of 3,283,743 shares, compared to its average volume of 8,167,041. The stock has a fifty day moving average price of $5.69. Defiance Daily Target 2X Short RGTI ETF has a 1-year low of $2.24 and a 1-year high of $37.48.

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.