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Victory Capital became the first ETF issuer to dual list its suite of funds on Nasdaq Texas, while the stock is up 2% on the day at $104.72.
Victory Capital will become the first ETF issuer to dual list its exchange traded funds on Nasdaq Texas, according to the company. The ETFs will continue to have their primary listings on the Nasdaq Exchange. Funds will keep existing ticker symbols and shareholders’ trading experience will remain unchanged, according to Stock Titan.
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Price is sitting right at resistance from the weekly high at $104.92. Shares of Nasdaq have maintained a bullish daily structure, holding above their MA-20, MA-50, and MA-200. The RSI reads 74, placing it in overbought territory and limiting further upside.
Traders should watch whether price can break and close above $104.92 to gauge the market's response. Price continues to test resistance at the weekly high without clearing it. Even so, for the coming trading week, the probability of further upside is more than 80%, with downside probability less than 20%, and an expected trading range between $99.75 and $109.68. A close above $104.92 would indicate buyers are following through, while a drop below $97.33 would show the move is being rejected. On the weekly chart the longer-term picture stays firmly constructive.
Earlier, analysts noted that technology-led gains and stable monetary policy expectations were supporting U.S. equity markets, although uncertainty around inflation and interest rates persisted. The introduction of dual listings for Victory Capital's ETFs on Nasdaq Texas provides a new catalyst for the exchange, and a decisive close above the $104.92 resistance level would reinforce the bullish outlook for Nasdaq in the near term.