The ETF Opportunities Trust T-Rex 2X Inverse MSTR Daily Target ETF (MSTZ) is experiencing upward movement due to significant developments surrounding MicroStrategy Incorporated (NASDAQ:MSTR), the underlying asset it inversely tracks. On December 20, 2024, Wellington Management Group LLP reported a substantial increase in its holdings of MicroStrategy shares, boosting its stake by 979.8% during the third quarter. This surge in institutional interest has contributed to heightened volatility in MicroStrategy's stock, which is reflected in the inverse performance of the MSTZ ETF.
Additionally, MicroStrategy's stock has been subject to increased market activity, with its price opening at $326.46 on December 20, 2024. The company's stock has shown a wide range of movement, with a 52-week low of $43.87 and a high of $543.00, indicating significant investor interest and market fluctuations. The stock's beta of 3.17 suggests a high level of volatility, which is likely influencing the inverse ETF's performance.
The MSTZ ETF is up 12% in pre-market hours on Friday, December 20, reaching a price of $28.00 as of 6:45 AM ET.