GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX – Get Free Report) saw a large increase in short interest during the month of July. As of July 31st, there was short interest totaling 1,764,220 shares, an increase of 110.7% from the July 15th total of 837,278 shares. Based on an average trading volume of 639,436 shares, the days-to-cover ratio is presently 2.8 days. Currently, 37.5% of the company’s shares are short sold.
GraniteShares 2x Long BABA Daily ETF Trading Up 2.5%
Shares of BABX stock traded up $0.54 during trading hours on Friday, hitting $22.17. 840,707 shares of the company were exchanged, compared to its average volume of 865,734. The firm has a fifty day moving average of $19.03 and a 200 day moving average of $26.66. GraniteShares 2x Long BABA Daily ETF has a 1 year low of $12.70 and a 1 year high of $66.00.
Hedge Funds Weigh In On GraniteShares 2x Long BABA Daily ETF
Institutional investors and hedge funds have recently bought and sold shares of the stock. Optiver Holding B.V. raised its stake in GraniteShares 2x Long BABA Daily ETF by 189.0% during the first quarter. Optiver Holding B.V. now owns 61,099 shares of the company’s stock worth $1,508,000 after purchasing an additional 39,958 shares during the period. DGS Capital Management LLC purchased a new stake in shares of GraniteShares 2x Long BABA Daily ETF during the 1st quarter valued at $216,000. Simplex Trading LLC purchased a new stake in GraniteShares 2x Long BABA Daily ETF during the fourth quarter valued at about $87,000. Scientech Research LLC purchased a new stake in shares of GraniteShares 2x Long BABA Daily ETF during the 3rd quarter worth about $213,000. Finally, Flow Traders U.S. LLC purchased a new stake in GraniteShares 2x Long BABA Daily ETF during the third quarter worth approximately $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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