T-REX 2X Inverse Tesla Daily Target ETF (TSLZ)
T-REX 2X Inverse Tesla 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 $15.44, up 3.21% on the session, giving a market capitalisation of $102.5M. Its beta of -2.40 implies it has historically moved less than the broad market.
Under normal market conditions, this ETF seeks to provide a daily return that is 200% inverse (opposite) to the performance of Tesla (TSLA) stock. To achieve this, it typically allocates at least 80% of its net assets to swap agreements. These agreements, entered into with major global financial institutions, involve the fund and the institution exchanging returns to generate daily exposure equivalent to negative 200% of the fund's net asset value, based on TSLA's movements. This investment vehicle operates as a non-diversified fund.
T-REX 2X Inverse Tesla Daily Target ETF is most often compared with the following Financial Services names: