GraniteShares 2x Long META Daily ETF (NASDAQ:FBL) Stock Price Up 9.3% – Should You Buy?

GraniteShares 2x Long META Daily ETF (NASDAQ:FBL)’s stock price were up 9.3% during mid-day trading on Thursday . The stock traded as high as $26.06 and last traded at $25.91. Approximately 3,087,902 shares changed hands during trading, an increase of 113% from the average session volume of 1,448,880 shares. The stock had previously closed at $23.70.

GraniteShares 2x Long META Daily ETF Stock Up 11.9%

The firm has a fifty day simple moving average of $24.00 and a two-hundred day simple moving average of $27.86.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Simplex Trading LLC lifted its stake in shares of GraniteShares 2x Long META Daily ETF by 373.6% during the fourth quarter. Simplex Trading LLC now owns 55,753 shares of the company’s stock worth $1,813,000 after buying an additional 43,981 shares during the period. Optiver Holding B.V. raised its stake in GraniteShares 2x Long META Daily ETF by 126.7% in the 1st quarter. Optiver Holding B.V. now owns 55,671 shares of the company’s stock worth $1,278,000 after acquiring an additional 31,119 shares during the last quarter. StoneX Group Inc. purchased a new stake in GraniteShares 2x Long META Daily ETF during the 4th quarter valued at about $662,000. NewEdge Advisors LLC purchased a new stake in GraniteShares 2x Long META Daily ETF during the 3rd quarter valued at about $590,000. Finally, Jane Street Group LLC raised its stake in shares of GraniteShares 2x Long META Daily ETF by 164.6% in the first quarter. Jane Street Group LLC now owns 17,428 shares of the company’s stock worth $531,000 after purchasing an additional 10,841 shares during the last quarter.

About GraniteShares 2x Long META Daily ETF

The GraniteShares 1.5x Long Meta Daily ETF (FBL) is an exchange-traded fund that mostly invests in communication services equity. The fund provides 1.5x leveraged exposure, less fees and expenses, to the daily price movement for shares of Meta Platforms, Inc Class A stock. FBL was launched on Dec 13, 2022 and is managed by GraniteShares.