T-REX 2X Inverse MSTR Daily Target ETF
MSTZ
Chicago Board Options Exchange- -
USD
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Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Leveraged
- Address
- 900 Third Avenue, 31st Floor New York NY United States of America 10022
- IPO Date
- Sep 18, 2024
- Website
- rexshares.com
- Similar Companies
- Business
- T-Rex 2X Inverse MSTR Daily Target ETF (MSTZ) is an exchange-traded fund that seeks daily investment results, before fees and expenses, equal to 200% of the inverse (or opposite) of the daily performance of the publicly traded shares of MicroStrategy Incorporated (NASDAQ: MSTR); the fund employs derivatives such as swaps and options to achieve its leveraged inverse exposure and is intended as a short-term trading vehicle rather than for longer-term holdings. MSTZ operates within the trading-inverse equity segment of the ETF industry, targeting sophisticated investors seeking tactical short exposure to MSTR, a business intelligence firm with significant bitcoin holdings that drives its stock volatility; the fund is non-diversified, carries an expense ratio of 1.05%, and trades on the Cboe BZX exchange. Launched on September 18, 2024, MSTZ is issued by REX Shares, with Tuttle Capital Management, LLC serving as the investment adviser under the ETF Opportunities Trust; REX Shares is headquartered in Fairfield, Connecticut, while Tuttle Capital Management maintains operations in Riverside, Connecticut. The fund provides inverse leveraged exposure exclusively tied to MSTR's daily price movements, utilizing swap agreements with a limited number of counterparties, options contracts, and short positions to deliver -2x performance; it does not hold MSTR shares directly, offers no dividends, and emphasizes high portfolio turnover due to daily rebalancing, which amplifies risks from compounding, volatility decay, and potential counterparty default. In December 2024, MSTZ underwent a 1-for-20 reverse share split effective after market close on December 13, with trading on a split-adjusted basis commencing December 16 on the Cboe BZX, aimed at maintaining share price viability without altering total shareholder market value except for fractional share redemptions; this action coincided with a forward split for its companion T-REX 2X Long MSTR Daily Target ETF (MSTU) and reflects ongoing portfolio management amid significant net outflows of approximately $94 million over the prior month as of early December 2025. The fund forms part of the expanding T-REX suite of leveraged and inverse single-stock ETFs co-created by REX Shares and Tuttle Capital Management, which includes similar products on Tesla, Nvidia, and others, underscoring strategic focus on high-conviction, volatile equities amid growing demand for amplified crypto-proxy trading tools. No additional acquisitions, funding rounds, or name changes have been reported for MSTZ or its sponsors in the last 1-2 years.