GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX – Get Free Report) was the recipient of a significant drop in short interest in the month of August. As of August 14th, there was short interest totaling 764,559 shares, a drop of 56.7% from the July 30th total of 1,764,220 shares. Approximately 16.3% of the shares of the stock are short sold. Based on an average daily volume of 677,688 shares, the short-interest ratio is presently 1.1 days.
GraniteShares 2x Long BABA Daily ETF Price Performance
Shares of BABX stock traded up $0.85 during trading hours on Friday, hitting $20.16. 631,743 shares of the company’s stock were exchanged, compared to its average volume of 901,864. GraniteShares 2x Long BABA Daily ETF has a 52 week low of $12.70 and a 52 week high of $66.00. The stock’s 50-day moving average is $19.52 and its 200-day moving average is $24.98.
Hedge Funds Weigh In On GraniteShares 2x Long BABA Daily ETF
A number of hedge funds and other institutional investors have recently bought and sold shares of BABX. Tower Research Capital LLC TRC bought a new stake in shares of GraniteShares 2x Long BABA Daily ETF during the 2nd quarter valued at $69,000. Simplex Trading LLC bought a new position in GraniteShares 2x Long BABA Daily ETF during the 4th quarter worth approximately $87,000. Scientech Research LLC acquired a new position in GraniteShares 2x Long BABA Daily ETF during the third quarter valued at approximately $213,000. DGS Capital Management LLC bought a new stake in GraniteShares 2x Long BABA Daily ETF in the first quarter valued at approximately $216,000. Finally, Flow Traders U.S. LLC acquired a new stake in GraniteShares 2x Long BABA Daily ETF in the third quarter worth $222,000.
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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