GraniteShares 2x Long AMZN Daily ETF (NASDAQ:AMZZ – Get Free Report) was the recipient of a large drop in short interest in the month of August. As of August 14th, there was short interest totaling 78,548 shares, a drop of 56.7% from the July 30th total of 181,407 shares. Based on an average trading volume of 122,513 shares, the short-interest ratio is presently 0.6 days. Approximately 6.2% of the company’s shares are sold short.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in AMZZ. Group One Trading LLC bought a new position in shares of GraniteShares 2x Long AMZN Daily ETF in the second quarter valued at $67,000. Susquehanna International Group LLP purchased a new position in shares of GraniteShares 2x Long AMZN Daily ETF during the third quarter valued at approximately $332,000. NewEdge Advisors LLC bought a new stake in GraniteShares 2x Long AMZN Daily ETF during the first quarter worth $694,000. Prosperity Wealth Management Inc. purchased a new position in GraniteShares 2x Long AMZN Daily ETF during the third quarter worth about $763,000. Finally, Optiver Holding B.V. purchased a new position in GraniteShares 2x Long AMZN Daily ETF during the first quarter worth about $912,000.
GraniteShares 2x Long AMZN Daily ETF Stock Down 3.6%
Shares of AMZZ stock opened at $35.49 on Monday. The firm has a 50 day moving average of $33.76 and a 200-day moving average of $32.14. The company has a market cap of $44.72 million, a price-to-earnings ratio of -583.81 and a beta of 3.44. GraniteShares 2x Long AMZN Daily ETF has a 52 week low of $22.21 and a 52 week high of $43.11.
About GraniteShares 2x Long AMZN Daily ETF
The GraniteShares 2x Long AMZN Daily ETF (AMZZ) is an exchange-traded fund that mostly invests in consumer discretionary equity. The fund provides 2x leveraged exposure, less fees and expenses, to the daily price movement for shares of Amazon stock. AMZZ was launched on Mar 4, 2024 and is issued by GraniteShares.
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