Defiance Daily Target 2X Long SOFI ETF (NASDAQ:SOFX) Sees Large Decline in Short Interest

Defiance Daily Target 2X Long SOFI ETF (NASDAQ:SOFX) saw a significant drop in short interest in the month of June. As of June 15th, there was short interest totaling 1,003,498 shares, a drop of 53.2% from the May 31st total of 2,143,531 shares. Based on an average trading volume of 1,420,917 shares, the days-to-cover ratio is presently 0.7 days. Currently, 19.3% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Jump Financial LLC bought a new position in shares of Defiance Daily Target 2X Long SOFI ETF in the fourth quarter worth $233,000. Optiver Holding B.V. boosted its stake 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 valued at $502,000 after buying an additional 45,762 shares during the period. Susquehanna International Group LLP grew its position in Defiance Daily Target 2X Long SOFI ETF by 36.8% during 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 in the last quarter. Finally, UBS Group AG grew its position in Defiance Daily Target 2X Long SOFI ETF by 9.7% during the fourth quarter. UBS Group AG now owns 184,908 shares of the company’s stock worth $5,253,000 after buying an additional 16,312 shares in the last quarter.

Defiance Daily Target 2X Long SOFI ETF Stock Down 2.7%

NASDAQ:SOFX traded down $0.29 during mid-day trading on Tuesday, hitting $10.27. 941,445 shares of the stock traded hands, compared to its average volume of 1,078,273. The business’s 50-day moving average price is $9.79 and its 200 day moving average price is $16.38. The company has a market cap of $53.51 million, a PE ratio of 23.00 and a beta of 4.30. Defiance Daily Target 2X Long SOFI ETF has a 12-month low of $7.56 and a 12-month high of $55.48.

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.