Defiance Daily Target 2X Long SOFI ETF (NASDAQ:SOFX) Share Price Breaks Below 50 Day Moving Average – Time to Sell?

Defiance Daily Target 2X Long SOFI ETF (NASDAQ:SOFX) shares crossed below its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $7.79 and traded as low as $7.17. Defiance Daily Target 2X Long SOFI ETF shares last traded at $7.45, with a volume of 1,624,274 shares traded.

Defiance Daily Target 2X Long SOFI ETF Trading Down 9.8%

The company has a market cap of $62.28 million, a P/E ratio of 23.00 and a beta of 4.53. The stock’s 50 day moving average is $7.79 and its 200-day moving average is $11.12.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Defiance Daily Target 2X Long SOFI ETF stock. Optiver Holding B.V. grew its position in shares of Defiance Daily Target 2X Long SOFI ETF (NASDAQ:SOFX) by 570.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,788 shares of the company’s stock after buying an additional 45,762 shares during the quarter. Optiver Holding B.V. owned 1.03% of Defiance Daily Target 2X Long SOFI ETF worth $502,000 as of its most recent filing with the Securities & Exchange Commission.

Defiance Daily Target 2X Long SOFI ETF Company Profile

The Defiance Daily Target 2X Long SOFI ETF (SOFX) is an exchange-traded fund that mostly invests in financials equity. The fund seeks to deliver 2x leveraged exposure to the daily share price movement of SoFi Technologies, Inc (SOFI), less fees and expenses, through derivatives like swap agreements SOFX was launched on Jan 15, 2025 and is issued by Defiance.