Short Interest in Defiance Daily Target 2X Long LLY ETF Surges 92.5%

The leveraged ETF tracking Eli Lilly stock sees a significant increase in short positions.

Published on Feb. 28, 2026

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The Defiance Daily Target 2X Long LLY ETF (NYSEARCA:LLYX), which provides 2x leveraged exposure to the daily share price movement of Eli Lilly and Company (NYSE: LLY), has seen a 92.5% increase in short interest as of February 13th. The fund's short interest now stands at 90,658 shares, up from 47,102 shares at the end of January.

Why it matters

The surge in short interest suggests investors are betting against the performance of the leveraged Eli Lilly ETF, likely due to concerns about the sustainability of the underlying stock's recent gains or broader market volatility. This could indicate increased bearish sentiment around the pharmaceutical company's stock price.

The details

The Defiance Daily Target 2X Long LLY ETF, which was launched in August 2024, seeks to provide 2x leveraged exposure to the daily share price movement of Eli Lilly. Based on an average daily volume of 740,864 shares, the days-to-cover ratio is currently 0.1 days, meaning it would take less than a day for short sellers to cover their positions.

  • As of February 13th, 2026, the short interest in the Defiance Daily Target 2X Long LLY ETF totaled 90,658 shares.
  • The short interest grew by 92.5% from the January 29th total of 47,102 shares.

The players

Defiance Daily Target 2X Long LLY ETF

An exchange-traded fund that provides 2x leveraged exposure to the daily share price movement of Eli Lilly and Company (NYSE: LLY).

Thurston Springer Miller Herd & Titak Inc.

A hedge fund that recently purchased a new stake in the Defiance Daily Target 2X Long LLY ETF, owning about 0.34% of the fund's shares.

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The takeaway

The significant increase in short interest in the Defiance Daily Target 2X Long LLY ETF suggests investors are taking a bearish stance on the leveraged fund's ability to track the performance of Eli Lilly's stock. This could signal broader concerns about the pharmaceutical company's stock price or the sustainability of the recent market rally.