The T-Rex 2X Long MSTR Daily Target ETF (MSTU) saw a remarkable surge of 13.81% in after-hours trading on Thursday, fueled by the exceptional performance of its underlying holding, MicroStrategy Inc. (MSTR).
MSTU is a leveraged ETF designed to deliver twice the daily returns of MicroStrategy's stock. MicroStrategy, a leading corporate investor in Bitcoin, has witnessed a staggering 674% rally in its share price year-to-date, driven by its massive Bitcoin holdings and the cryptocurrency's record-breaking run in 2024.
As MicroStrategy continues to reap the benefits of its aggressive Bitcoin accumulation strategy, spearheaded by Chairman Michael Saylor, the ripple effects have amplified gains for ETFs with significant exposure to the company. MSTU, with a 90.14% weighting in MSTR, has capitalized on this phenomenon, delivering outsized returns to investors seeking amplified exposure to MicroStrategy's Bitcoin-driven success.
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