Tradr 2X Long APP Daily ETF (NASDAQ:APPX) Stock Price Down 3.4% – Here’s Why

Shares of Tradr 2X Long APP Daily ETF (NASDAQ:APPX) traded down 3.4% on Thursday . The company traded as low as $27.41 and last traded at $28.06. 1,013,147 shares traded hands during trading, an increase of 15% from the average session volume of 878,315 shares. The stock had previously closed at $29.04.

Tradr 2X Long APP Daily ETF Stock Down 12.5%

The firm has a fifty day moving average of $34.38 and a 200-day moving average of $28.94.

Tradr 2X Long APP Daily ETF Announces Dividend

The firm also recently announced an annual dividend, which was paid on Tuesday, December 30th. Stockholders of record on Friday, December 26th were paid a $3.3248 dividend. The ex-dividend date of this dividend was Friday, December 26th.

Hedge Funds 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. CoreCap Advisors LLC bought a new position in shares of Tradr 2X Long APP Daily ETF (NASDAQ:APPX) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,500 shares of the company’s stock, valued at approximately $53,000. CoreCap Advisors LLC owned 0.07% of Tradr 2X Long APP Daily ETF as of its most recent filing with the Securities and Exchange Commission.

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.