SNXX is trading at $23.95 (-12.56%) as a sharp unwind in the semiconductor and AI-chip trade pressures high-beta names.
- The fund is seeing amplified downside due to its 2x leveraged exposure to Sandisk (SNDK).
- Selling pressure follows a period of profit-taking after the recent sector rally.
- A broader softening in tech sentiment is adding further weight to the chip industry.