GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX – Get Free Report) shares were down 2.5% on Thursday . The stock traded as low as $39.72 and last traded at $41.58. Approximately 392,237 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 1,190,258 shares. The stock had previously closed at $42.65.
GraniteShares 2x Long BABA Daily ETF Price Performance
The firm has a 50-day moving average of $46.87 and a two-hundred day moving average of $37.04.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the business. SBI Securities Co. Ltd. grew its stake in GraniteShares 2x Long BABA Daily ETF by 98.2% during the third quarter. SBI Securities Co. Ltd. now owns 1,084 shares of the company’s stock worth $62,000 after buying an additional 537 shares during the period. IFP Advisors Inc acquired a new position in shares of GraniteShares 2x Long BABA Daily ETF during the 3rd quarter valued at $114,000. Tower Research Capital LLC TRC acquired a new position in shares of GraniteShares 2x Long BABA Daily ETF during the 2nd quarter valued at $69,000. Scientech Research LLC purchased a new stake in GraniteShares 2x Long BABA Daily ETF during the 3rd quarter worth $213,000. Finally, Flow Traders U.S. LLC acquired a new stake in GraniteShares 2x Long BABA Daily ETF in the 3rd quarter valued at $222,000.
GraniteShares 2x Long BABA Daily ETF Company Profile
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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