Tradr 2X Long APP Daily ETF (NASDAQ:APPX) Shares Down 39.2% – Should You Sell?

Tradr 2X Long APP Daily ETF (NASDAQ:APPX)’s stock price fell 39.2% on Thursday . The stock traded as low as $14.80 and last traded at $15.20. Approximately 4,638,147 shares traded hands during trading, an increase of 475% from the average session volume of 806,625 shares. The stock had previously closed at $25.01.

Tradr 2X Long APP Daily ETF Stock Performance

The stock’s fifty day simple moving average is $34.60 and its 200-day simple moving average is $37.32.

Institutional Investors Weigh In On Tradr 2X Long APP Daily ETF

A hedge fund recently bought a new stake in Tradr 2X Long APP Daily ETF stock. Flow Traders U.S. LLC bought a new position in shares of Tradr 2X Long APP Daily ETF (NASDAQ:APPX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 13,962 shares of the company’s stock, valued at approximately $2,062,000. Flow Traders U.S. LLC owned approximately 0.37% of Tradr 2X Long APP Daily ETF as of its most recent SEC filing.

About Tradr 2X Long APP Daily ETF

Tradr 2X Long APP Daily ETF (APPX) is a leveraged exchange-traded fund designed to deliver 200% (2x) of the daily performance of AppLovin Corp. (APP) stock, before fees and expenses. The fund primarily uses total return swap agreements with major global financial institutions to achieve its leverage target. If swaps are unavailable or less efficient, it may use FLEX call options or directly hold APP shares. APPX is intended for sophisticated investors and professional traders seeking short-term, tactical exposure to the daily price movements of AppLovin, and is not suitable for long-term holding due to the compounding effects of leverage and daily resets.