Defiance Daily Target 1.75X Long MSTR ETF to Reverse Split

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Defiance Daily Target 1.75X Long MSTR ETF (NASDAQ:MSTX), an exchange-traded fund that provides leveraged exposure to MicroStrategy Incorporated (NYSE:MSTR), is set to undergo a 1-10 reverse split before the market opens on Wednesday, March 18th. The number of shares owned by shareholders will be adjusted after the closing bell on Tuesday, March 17th.

Why it matters

Reverse splits are often used by companies to increase their stock price, which can make the shares more attractive to investors and improve the fund's liquidity. However, reverse splits can also dilute the value of existing shareholders' holdings.

The details

Shares of MSTX stock opened at $2.51 on Tuesday. The firm has a market capitalization of $223.01 million, a price-to-earnings ratio of -14.76 and a beta of 2.11. Defiance Daily Target 1.75X Long MSTR ETF has a one year low of $1.57 and a one year high of $49.76. The company has a 50 day moving average price of $3.28 and a 200 day moving average price of $10.72.

• The 1-10 reverse split will take effect before the market opens on Wednesday, March 18th.
• The number of shares owned by shareholders will be adjusted after the closing bell on Tuesday, March 17th.

What’s next

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