Tradr 2X Long APP Daily ETF (NASDAQ:APPX) Sees Large Drop in Short Interest

Tradr 2X Long APP Daily ETF (NASDAQ:APPX) was the recipient of a significant decline in short interest in the month of April. As of April 30th, there was short interest totaling 88,478 shares, a decline of 54.4% from the April 15th total of 193,981 shares. Based on an average daily volume of 604,016 shares, the days-to-cover ratio is presently 0.1 days. Currently, 2.1% of the company’s shares are sold short.

Institutional Trading of Tradr 2X Long APP Daily ETF

A number of institutional investors and hedge funds have recently made changes to their positions in APPX. Hollencrest Capital Management purchased a new position in shares of Tradr 2X Long APP Daily ETF in the 4th quarter worth $54,000. CoreCap Advisors LLC purchased a new stake in Tradr 2X Long APP Daily ETF during the fourth quarter valued at about $53,000. Finally, Flow Traders U.S. LLC acquired a new stake in Tradr 2X Long APP Daily ETF during the third quarter worth about $2,062,000.

Tradr 2X Long APP Daily ETF Stock Up 6.4%

Shares of APPX stock opened at $40.64 on Friday. Tradr 2X Long APP Daily ETF has a one year low of $22.71 and a one year high of $157.62. The company has a 50 day moving average price of $34.48 and a 200 day moving average price of $65.61.

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.