Tradr 2X Long APLD Daily ETF (APLX) Stock Price, Quote, News & History | Benzinga

Under normal market circumstances, the Fund will maintain at least 80 percent exposure to financial instruments that provide two times leveraged exposure to the daily performance of APLD. This may include APLD stock in addition to financial instruments discussed below. The Fund is an actively-managed exchange-traded fund (ETF) that seeks to achieve on a daily basis, before fees and expenses, 200 percent performance of APLD for a single day, not for any other period, by entering into one or more swaps and/or purchasing listed options on APLD and/or investing directly in the common stock of APLD. A single day is measured from the time the Fund calculates its net asset value (NAV) to the time of the Funds next NAV calculation. However, the use of option contracts or direct investments in common stock of APLD is typically less efficient than swaps and may increase the likelihood that the Fund is unable to achieve its daily 2X objective. The Fund will enter into one or more swaps with major global financial institutions whereby the Fund and the global financial institution will agree to exchange the return (or differentials in rates of return) earned or realized on APLD. The gross return to be exchanged or swapped between the parties is calculated with respect