Defiance Daily Target 2X Long SOFI ETF (NASDAQ:SOFX) Trading Up 7% – Still a Buy?

Shares of Defiance Daily Target 2X Long SOFI ETF (NASDAQ:SOFX) shot up 7% during mid-day trading on Tuesday . The stock traded as high as $9.71 and last traded at $9.69. 730,554 shares traded hands during trading, a decline of 33% from the average session volume of 1,083,622 shares. The stock had previously closed at $9.06.

Defiance Daily Target 2X Long SOFI ETF Price Performance

The company has a fifty day moving average price of $9.61 and a two-hundred day moving average price of $13.78. The firm has a market cap of $86.53 million, a price-to-earnings ratio of 23.00 and a beta of 4.28.

Hedge Funds Weigh In On Defiance Daily Target 2X Long SOFI ETF

Several hedge funds have recently made changes to their positions in the business. UBS Group AG raised its holdings in shares of Defiance Daily Target 2X Long SOFI ETF by 17,912.4% in the 3rd quarter. UBS Group AG now owns 168,596 shares of the company’s stock worth $6,540,000 after purchasing an additional 167,660 shares in the last quarter. Optiver Holding B.V. boosted its holdings in Defiance Daily Target 2X Long SOFI ETF by 570.2% during the first quarter. Optiver Holding B.V. now owns 53,788 shares of the company’s stock worth $502,000 after buying an additional 45,762 shares in the last quarter. Susquehanna International Group LLP grew its position in Defiance Daily Target 2X Long SOFI ETF by 36.8% in the third quarter. Susquehanna International Group LLP now owns 91,432 shares of the company’s stock worth $3,547,000 after buying an additional 24,575 shares during the last quarter. Finally, Jump Financial LLC acquired a new position in Defiance Daily Target 2X Long SOFI ETF in the fourth quarter worth approximately $233,000.

About Defiance Daily Target 2X Long SOFI ETF

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.