Short Interest in GraniteShares 2x Long META Daily ETF (NASDAQ:FBL) Drops By 73.4%

GraniteShares 2x Long META Daily ETF (NASDAQ:FBL) was the target of a significant drop in short interest in April. As of April 15th, there was short interest totalling 172,700 shares, a drop of 73.4% from the March 31st total of 648,600 shares. Based on an average daily trading volume, of 1,049,700 shares, the days-to-cover ratio is currently 0.2 days. Currently, 3.5% of the shares of the stock are sold short.

Hedge Funds Weigh In On GraniteShares 2x Long META Daily ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. acquired a new stake in shares of GraniteShares 2x Long META Daily ETF in the fourth quarter valued at approximately $74,000. Simplex Trading LLC raised its holdings in shares of GraniteShares 2x Long META Daily ETF by 928.1% in the fourth quarter. Simplex Trading LLC now owns 9,325 shares of the company’s stock worth $307,000 after acquiring an additional 8,418 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of GraniteShares 2x Long META Daily ETF in the fourth quarter valued at $957,000. TRUE Private Wealth Advisors lifted its position in shares of 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 acquiring an additional 666 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of GraniteShares 2x Long META Daily ETF during the fourth quarter valued at $217,000.

GraniteShares 2x Long META Daily ETF Trading Up 0.7 %

Shares of NASDAQ:FBL traded up $0.20 during midday trading on Monday, hitting $26.31. 1,527,475 shares of the stock were exchanged, compared to its average volume of 828,441. GraniteShares 2x Long META Daily ETF has a twelve month low of $19.71 and a twelve month high of $51.74. The company has a 50 day moving average price of $31.87 and a 200-day moving average price of $34.96.

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.