Defiance Daily Target 2X Short RGTI ETF (NASDAQ:RGTZ) Short Interest Up 1,018.7% in April

Defiance Daily Target 2X Short RGTI ETF (NASDAQ:RGTZ) saw a significant increase in short interest in April. As of April 30th, there was short interest totaling 655,089 shares, an increase of 1,018.7% from the April 15th total of 58,556 shares. Currently, 27.1% of the company’s stock are short sold. Based on an average daily volume of 2,952,381 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake 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) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 9,206 shares of the ETF’s stock, valued at approximately $250,000. IMC Chicago LLC owned approximately 0.38% of Defiance Daily Target 2X Short RGTI ETF at the end of the most recent reporting period.

Defiance Daily Target 2X Short RGTI ETF Stock Performance

Shares of RGTZ traded up $0.63 during midday trading on Wednesday, reaching $10.91. 3,119,990 shares of the company were exchanged, compared to its average volume of 3,221,159. Defiance Daily Target 2X Short RGTI ETF has a 1-year low of $8.14 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.