GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX – Get Free Report) was the recipient of a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 47,800 shares, a decline of 50.2% from the March 15th total of 96,000 shares. Based on an average daily trading volume, of 1,284,500 shares, the short-interest ratio is currently 0.0 days. Currently, 1.8% of the company’s stock are short sold.
GraniteShares 2x Long BABA Daily ETF Trading Down 7.2 %
NASDAQ BABX traded down $1.79 during trading on Wednesday, reaching $23.02. 416,417 shares of the company’s stock were exchanged, compared to its average volume of 507,569. GraniteShares 2x Long BABA Daily ETF has a fifty-two week low of $11.85 and a fifty-two week high of $45.28. The company’s fifty day simple moving average is $33.83 and its 200-day simple moving average is $24.70.
Institutional Investors Weigh In On GraniteShares 2x Long BABA Daily ETF
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hoey Investments Inc. acquired a new stake in GraniteShares 2x Long BABA Daily ETF during the fourth quarter valued at $26,000. Optiver Holding B.V. bought a new position in shares of GraniteShares 2x Long BABA Daily ETF in the fourth quarter valued at approximately $2,302,000. Jane Street Group LLC acquired a new stake in shares of GraniteShares 2x Long BABA Daily ETF in the fourth quarter worth $288,000. Finally, IMC Chicago LLC bought a new stake in shares of GraniteShares 2x Long BABA Daily ETF during the 1st quarter worth $946,000.
About GraniteShares 2x Long BABA Daily ETF
The GraniteShares 1.75x Long BABA Daily ETF (BABX) is an exchange-traded fund that mostly invests in consumer discretionary equity. The fund provides 1.75x leveraged exposure, less fees and expenses, to the daily price movement for shares of Alibaba Group Holding Limited stock. BABX was launched on Dec 13, 2022 and is managed by GraniteShares.
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