GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX) Sees Significant Drop in Short Interest

GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX) saw a large decrease in short interest during the month of April. As of April 30th, there was short interest totaling 1,056,641 shares, a decrease of 39.0% from the April 15th total of 1,732,045 shares. Currently, 23.9% of the company’s shares are sold short. Based on an average trading volume of 648,174 shares, the days-to-cover ratio is currently 1.6 days.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. SBI Securities Co. Ltd. lifted its holdings in GraniteShares 2x Long BABA Daily ETF by 98.2% during the 3rd quarter. SBI Securities Co. Ltd. now owns 1,084 shares of the company’s stock worth $62,000 after buying an additional 537 shares during the period. Jane Street Group LLC grew its stake in GraniteShares 2x Long BABA Daily ETF by 4.9% in the first quarter. Jane Street Group LLC now owns 18,747 shares of the company’s stock worth $668,000 after purchasing an additional 876 shares during the period. IFP Advisors Inc purchased a new stake in GraniteShares 2x Long BABA Daily ETF in the third quarter worth $114,000. Simplex Trading LLC purchased a new stake in GraniteShares 2x Long BABA Daily ETF in the fourth quarter worth $87,000. Finally, Tower Research Capital LLC TRC purchased a new stake in GraniteShares 2x Long BABA Daily ETF in the second quarter worth $69,000.

GraniteShares 2x Long BABA Daily ETF Trading Up 2.4%

BABX stock traded up $0.63 during trading on Monday, reaching $27.18. 318,379 shares of the company’s stock were exchanged, compared to its average volume of 889,556. The company’s fifty day moving average price is $27.10 and its 200-day moving average price is $36.82. GraniteShares 2x Long BABA Daily ETF has a 1-year low of $20.68 and a 1-year high of $66.00.

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.