Defiance Daily Target 1.75X Long MSTR ETF (NASDAQ:MSTX) Shares Down 11.4% – Here’s Why

Defiance Daily Target 1.75X Long MSTR ETF (NASDAQ:MSTX)’s share price was down 11.4% during trading on Friday . The stock traded as low as $3.95 and last traded at $4.05. Approximately 63,132,748 shares traded hands during mid-day trading, an increase of 8% from the average daily volume of 58,704,004 shares. The stock had previously closed at $4.57.

Defiance Daily Target 1.75X Long MSTR ETF Price Performance

The firm has a market capitalization of $301.60 million, a P/E ratio of -23.82 and a beta of 2.11. The firm has a 50-day moving average price of $6.13 and a two-hundred day moving average price of $20.87.

Institutional Investors Weigh In On Defiance Daily Target 1.75X Long MSTR ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sterling Investment Advisors Ltd. purchased a new stake in Defiance Daily Target 1.75X Long MSTR ETF in the 2nd quarter valued at about $315,000. Vestor Capital LLC raised its stake in shares of Defiance Daily Target 1.75X Long MSTR ETF by 1,765.7% during the second quarter. Vestor Capital LLC now owns 66,121 shares of the company’s stock valued at $2,669,000 after acquiring an additional 62,577 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Defiance Daily Target 1.75X Long MSTR ETF during the second quarter valued at approximately $12,726,000. Finally, Parallel Advisors LLC boosted its holdings in shares of Defiance Daily Target 1.75X Long MSTR ETF by 650.0% in the third quarter. Parallel Advisors LLC now owns 1,500 shares of the company’s stock valued at $32,000 after purchasing an additional 1,300 shares during the period. Institutional investors own 4.09% of the company’s stock.

About Defiance Daily Target 1.75X Long MSTR ETF

The Defiance Daily Target 2x Long MSTR ETF (MSTX) is an exchange-traded fund that mostly invests in information technology equity. The fund seeks to provide 2x leveraged exposure to the daily share price movement of the MicroStrategy Incorporated (NYSE: MSTR), less fees and expenses. MSTX was launched on Aug 14, 2024 and is issued by Defiance.