GraniteShares 2x Long META Daily ETF (NASDAQ:FBL) Short Interest Up 18.5% in February

GraniteShares 2x Long META Daily ETF (NASDAQ:FBL) was the recipient of a large increase in short interest in February. As of February 28th, there was short interest totalling 663,700 shares, an increase of 18.5% from the February 13th total of 559,900 shares. Based on an average daily trading volume, of 873,200 shares, the days-to-cover ratio is currently 0.8 days. Currently, 14.9% of the shares of the stock are short sold.

GraniteShares 2x Long META Daily ETF Stock Performance

Shares of NASDAQ:FBL opened at $31.55 on Thursday. GraniteShares 2x Long META Daily ETF has a 52-week low of $18.18 and a 52-week high of $51.74. The stock’s fifty day simple moving average is $40.78 and its 200-day simple moving average is $35.57.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC acquired a new position in GraniteShares 2x Long META Daily ETF in the 4th quarter valued at $217,000. TRUE Private Wealth Advisors increased its stake in GraniteShares 2x Long META Daily ETF by 1.6% in the fourth quarter. TRUE Private Wealth Advisors now owns 42,932 shares of the company’s stock valued at $1,417,000 after purchasing an additional 666 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in GraniteShares 2x Long META Daily ETF in the fourth quarter valued at $957,000. Simplex Trading LLC lifted its position in GraniteShares 2x Long META Daily ETF by 928.1% during the fourth quarter. Simplex Trading LLC now owns 9,325 shares of the company’s stock worth $307,000 after buying an additional 8,418 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new stake in GraniteShares 2x Long META Daily ETF in the 4th quarter worth about $74,000.

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.