Defiance Daily Target 2X Long SMCI ETF (NASDAQ:SMCX) Shares Down 6.8% – Here’s Why

Defiance Daily Target 2X Long SMCI ETF (NASDAQ:SMCX)’s share price dropped 6.8% during mid-day trading on Tuesday . The stock traded as low as $11.71 and last traded at $11.73. Approximately 2,489,016 shares were traded during trading, a decline of 15% from the average daily volume of 2,915,503 shares. The stock had previously closed at $12.59.

Defiance Daily Target 2X Long SMCI ETF Price Performance

The stock’s 50 day moving average price is $20.73 and its 200 day moving average price is $35.73.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Defiance Daily Target 2X Long SMCI ETF stock. Optiver Holding B.V. boosted its stake in Defiance Daily Target 2X Long SMCI ETF (NASDAQ:SMCX) by 306.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,354 shares of the company’s stock after purchasing an additional 20,628 shares during the quarter. Optiver Holding B.V. owned about 0.48% of Defiance Daily Target 2X Long SMCI ETF worth $1,063,000 as of its most recent SEC filing.

Defiance Daily Target 2X Long SMCI ETF Company Profile

The Defiance Daily Target 2X Long SMCI ETF (SMCX) is an exchange-traded fund that mostly invests in information technology equity. The fund seeks to deliver 2x leveraged exposure to the daily share price movement of Super Micro Computer, Inc (SMCI), less fees and expenses, through derivatives like swap agreements SMCX was launched on Aug 21, 2024 and is issued by Defiance.