T-REX 2X Long Apple Daily Target ETF (AAPX)
T-REX 2X Long Apple Daily Target ETF operates in the Asset Management - Leveraged industry of the Financial Services sector, headquartered in Fairfield, WY, US. The stock last traded at $33.49, down 2.17% on the session, giving a market capitalisation of $8.0M. Its beta of 1.72 implies it has historically moved more than the broad market.
This fund, in its typical operations, primarily utilizes financial swap agreements. These derivatives are designed to deliver daily investment exposure that is equivalent to 200% of Apple's (AAPL) stock performance, and at least 80% of the fund's net assets (plus any capital acquired through borrowing for investment purposes) is dedicated to these arrangements. The ETF executes these swap contracts with major financial institutions globally. Through these agreements, the fund and the counterparty institution exchange returns, allowing the fund to achieve a daily return that mirrors double the value of its net assets, as if directly invested in AAPL. Importantly, this fund maintains a non-diversified portfolio.
T-REX 2X Long Apple Daily Target ETF is most often compared with the following Financial Services names: