GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX) Short Interest Update

GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX) saw a significant drop in short interest in the month of May. As of May 29th, there was short interest totaling 740,344 shares, a drop of 37.2% from the May 14th total of 1,179,421 shares. Currently, 16.7% of the shares of the company are short sold. Based on an average daily volume of 738,846 shares, the short-interest ratio is presently 1.0 days.

GraniteShares 2x Long BABA Daily ETF Stock Performance

BABX traded down $0.53 during trading on Tuesday, hitting $18.67. The stock had a trading volume of 1,033,151 shares, compared to its average volume of 856,187. The company has a 50 day moving average price of $25.85 and a 200-day moving average price of $33.49. GraniteShares 2x Long BABA Daily ETF has a one year low of $18.02 and a one year high of $66.00.

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

A number of hedge funds have recently bought and sold shares of the business. Jane Street Group LLC raised its stake in GraniteShares 2x Long BABA Daily ETF by 4.9% in the 1st quarter. Jane Street Group LLC now owns 18,747 shares of the company’s stock worth $668,000 after purchasing an additional 876 shares in the last quarter. Tower Research Capital LLC TRC bought a new position in shares of GraniteShares 2x Long BABA Daily ETF during the second quarter worth approximately $69,000. Flow Traders U.S. LLC bought a new position in shares of GraniteShares 2x Long BABA Daily ETF during the third quarter worth approximately $222,000. Scientech Research LLC acquired a new stake in shares of GraniteShares 2x Long BABA Daily ETF in the third quarter valued at approximately $213,000. Finally, IFP Advisors Inc bought a new stake in shares of GraniteShares 2x Long BABA Daily ETF in the third quarter valued at approximately $114,000.

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.