Short Interest in GraniteShares 2x Long AMZN Daily ETF (NASDAQ:AMZZ) Decreases By 50.9%

GraniteShares 2x Long AMZN Daily ETF (NASDAQ:AMZZ) was the target of a large decrease in short interest during the month of July. As of July 15th, there was short interest totaling 126,815 shares, a decrease of 50.9% from the June 30th total of 258,066 shares. Based on an average daily volume of 130,997 shares, the short-interest ratio is currently 1.0 days. Currently, 9.3% of the company’s shares are short sold.

GraniteShares 2x Long AMZN Daily ETF Stock Performance

Shares of NASDAQ AMZZ traded down $0.69 during mid-day trading on Tuesday, reaching $27.99. 65,580 shares of the company’s stock were exchanged, compared to its average volume of 254,046. The company’s 50-day moving average is $33.55 and its 200-day moving average is $31.56. The firm has a market capitalization of $37.51 million, a price-to-earnings ratio of -460.44 and a beta of 3.57. GraniteShares 2x Long AMZN Daily ETF has a 52-week low of $22.21 and a 52-week high of $43.11.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Optiver Holding B.V. acquired a new stake in shares of GraniteShares 2x Long AMZN Daily ETF during the first quarter valued at about $912,000. NewEdge Advisors LLC acquired a new position in shares of GraniteShares 2x Long AMZN Daily ETF in the 1st quarter worth approximately $694,000. Prosperity Wealth Management Inc. purchased a new position in shares of GraniteShares 2x Long AMZN Daily ETF during the 3rd quarter worth approximately $763,000. Susquehanna International Group LLP purchased a new position in shares of GraniteShares 2x Long AMZN Daily ETF during the 3rd quarter worth approximately $332,000. Finally, Group One Trading LLC boosted its position in shares of GraniteShares 2x Long AMZN Daily ETF by 412.6% during the 3rd quarter. Group One Trading LLC now owns 11,068 shares of the company’s stock worth $329,000 after purchasing an additional 8,909 shares during the period.

About GraniteShares 2x Long AMZN Daily ETF

The GraniteShares 2x Long AMZN Daily ETF (AMZZ) is an exchange-traded fund that mostly invests in consumer discretionary equity. The fund provides 2x leveraged exposure, less fees and expenses, to the daily price movement for shares of Amazon stock. AMZZ was launched on Mar 4, 2024 and is issued by GraniteShares.