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AXTQ doubles the inverse of AXTI's daily move, letting traders bet against a stock up 344% year to date and over 2,200% in the past year.
The daily reset erodes value through volatility decay, and a single 50%-plus AXTI rally can wipe out an AXTQ position entirely.
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A new exchange-traded fund gives traders a way to double down on a bet against one of this year's hottest semiconductor names. The Tradr 2X Short AXTI Daily ETF (CBOE:AXTQ) is designed to move in the opposite direction of AXT (NASDAQ:AXTI) stock, and to do so with leverage, meaning gains and losses are amplified, according to Tradr ETFs. Tradr ETFs launched the fund on the Cboe exchange under the ticker AXTQ, tracking AXT, Inc. (Nasdaq: AXTI), and Tradr ETFs said the fund was expected to begin trading on Tuesday, August 18.