Defiance Daily Target 2X Long SOFI ETF (NASDAQ:SOFX) Stock Breaks Below 50-Day Moving Average – Here’s Why

Shares of Defiance Daily Target 2X Long SOFI ETF (NASDAQ:SOFX) crossed below its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $7.79 and traded as low as $7.17. Defiance Daily Target 2X Long SOFI ETF shares last traded at $7.45, with a volume of 1,624,274 shares traded.

Defiance Daily Target 2X Long SOFI ETF Price Performance

The stock has a market capitalization of $62.28 million, a price-to-earnings ratio of 23.00 and a beta of 4.53. The firm’s fifty day moving average is $7.79 and its 200-day moving average is $11.12.

Institutional Investors Weigh In On Defiance Daily Target 2X Long SOFI ETF

A hedge fund recently raised its stake in Defiance Daily Target 2X Long SOFI ETF stock. Optiver Holding B.V. lifted its stake in shares of Defiance Daily Target 2X Long SOFI ETF (NASDAQ:SOFX) by 570.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 53,788 shares of the company’s stock after purchasing an additional 45,762 shares during the period. Optiver Holding B.V. owned about 1.03% of Defiance Daily Target 2X Long SOFI ETF worth $502,000 as of its most recent filing with the SEC.

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.