Defiance Daily Target 1.75X Long MSTR ETF (NASDAQ:MSTX) Shares Down 3% – Should You Sell?

Defiance Daily Target 1.75X Long MSTR ETF (NASDAQ:MSTX)’s share price dropped 3% during trading on Thursday . The stock traded as low as $4.20 and last traded at $4.24. Approximately 39,146,091 shares changed hands during trading, an increase of 219% from the average daily volume of 12,271,275 shares. The stock had previously closed at $4.37.

Defiance Daily Target 1.75X Long MSTR ETF Stock Performance

The stock’s 50-day moving average price is $9.75 and its two-hundred day moving average price is $24.20. The stock has a market capitalization of $199.23 million, a PE ratio of -26.82 and a beta of 2.11.

Hedge Funds Weigh In On Defiance Daily Target 1.75X Long MSTR ETF

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC lifted its holdings in shares of Defiance Daily Target 1.75X Long MSTR ETF by 650.0% during 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 last quarter. Sterling Investment Advisors Ltd. bought a new position in Defiance Daily Target 1.75X Long MSTR ETF during the 2nd quarter valued at approximately $315,000. OLD Mission Capital LLC purchased a new position in Defiance Daily Target 1.75X Long MSTR ETF during the first quarter valued at $449,000. Vestor Capital LLC boosted its holdings in Defiance Daily Target 1.75X Long MSTR ETF by 1,765.7% in the second quarter. Vestor Capital LLC now owns 66,121 shares of the company’s stock worth $2,669,000 after acquiring an additional 62,577 shares in the last quarter. Finally, BNP Paribas Financial Markets bought a new stake in Defiance Daily Target 1.75X Long MSTR ETF in the second quarter worth $12,726,000. 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.