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) saw a significant increase in short interest in the month of May. As of May 29th, there was short interest totaling 10,196,089 shares, an increase 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 days-to-cover ratio is presently 0.3 days. Approximately 421.3% of the shares of the company are sold short.

Defiance Daily Target 2X Short RGTI ETF Stock Performance

NASDAQ:RGTZ opened at $3.71 on Friday. Defiance Daily Target 2X Short RGTI ETF has a 12 month low of $2.24 and a 12 month high of $37.48. The company has a 50 day moving average price of $10.09.

Hedge Funds 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 purchased 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 filing with the Securities and Exchange Commission (SEC). The fund purchased 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 (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.