Tradr 2X Long APP Daily ETF (NASDAQ:APPX) Shares Down 39.2% – Here’s Why

Tradr 2X Long APP Daily ETF (NASDAQ:APPX)’s stock price fell 39.2% on Thursday . The stock traded as low as $14.80 and last traded at $15.20. Approximately 4,638,147 shares changed hands during trading, an increase of 475% from the average daily volume of 806,625 shares. The stock had previously closed at $25.01.

Tradr 2X Long APP Daily ETF Price Performance

The company has a fifty day simple moving average of $35.47 and a 200-day simple moving average of $37.47.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Tradr 2X Long APP Daily ETF stock. Hollencrest Capital Management purchased a new stake in shares of Tradr 2X Long APP Daily ETF (NASDAQ:APPX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,515 shares of the company’s stock, valued at approximately $54,000.

About Tradr 2X Long APP Daily ETF

Tradr 2X Long APP Daily ETF (APPX) is a leveraged exchange-traded fund designed to deliver 200% (2x) of the daily performance of AppLovin Corp. (APP) stock, before fees and expenses. The fund primarily uses total return swap agreements with major global financial institutions to achieve its leverage target. If swaps are unavailable or less efficient, it may use FLEX call options or directly hold APP shares. APPX is intended for sophisticated investors and professional traders seeking short-term, tactical exposure to the daily price movements of AppLovin, and is not suitable for long-term holding due to the compounding effects of leverage and daily resets.