Defiance Daily Target 2X Long SMCI ETF (NASDAQ:SMCX) Sees Significant Drop in Short Interest

Defiance Daily Target 2X Long SMCI ETF (NASDAQ:SMCX) was the target of a large decrease in short interest in May. As of May 29th, there was short interest totaling 835,454 shares, a decrease of 33.4% from the May 14th total of 1,254,566 shares. Based on an average trading volume of 2,711,790 shares, the days-to-cover ratio is currently 0.3 days. Approximately 9.4% of the shares of the stock are short sold.

Defiance Daily Target 2X Long SMCI ETF Trading Down 1.0%

Shares of SMCX stock traded down $0.09 during mid-day trading on Wednesday, hitting $9.33. 2,517,461 shares of the stock were exchanged, compared to its average volume of 3,222,419. The firm has a fifty day moving average of $15.70 and a 200 day moving average of $20.79. Defiance Daily Target 2X Long SMCI ETF has a 52-week low of $6.48 and a 52-week high of $151.22.

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

Several hedge funds have recently modified their holdings of SMCX. Optiver Holding B.V. boosted its stake in shares of Defiance Daily Target 2X Long SMCI ETF by 306.7% during the 3rd quarter. Optiver Holding B.V. now owns 27,354 shares of the company’s stock worth $1,063,000 after acquiring an additional 20,628 shares in the last quarter. Simplex Trading LLC purchased a new stake in shares of Defiance Daily Target 2X Long SMCI ETF during the 4th quarter worth about $95,000. Finally, HRT Financial LP purchased a new stake in shares of Defiance Daily Target 2X Long SMCI ETF during the 4th quarter worth about $228,000.

Defiance Daily Target 2X Long SMCI ETF Company Profile

The Defiance Daily Target 2X Long SMCI ETF (SMCX) is an exchange-traded fund that mostly invests in information technology equity. The fund seeks to deliver 2x leveraged exposure to the daily share price movement of Super Micro Computer, Inc (SMCI), less fees and expenses, through derivatives like swap agreements SMCX was launched on Aug 21, 2024 and is issued by Defiance.