GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX) Stock Price Down 2% – What’s Next?

GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX) traded down 2% during trading on Thursday . The stock traded as low as $37.77 and last traded at $38.33. 235,920 shares were traded during mid-day trading, a decline of 78% from the average session volume of 1,067,282 shares. The stock had previously closed at $39.13.

GraniteShares 2x Long BABA Daily ETF Trading Up 0.2%

The company has a 50-day moving average price of $41.68 and a 200-day moving average price of $42.55.

Institutional Investors Weigh In On GraniteShares 2x Long BABA Daily ETF

A number of hedge funds and other institutional investors have recently modified their holdings of BABX. SBI Securities Co. Ltd. lifted its stake in shares of GraniteShares 2x Long BABA Daily ETF by 98.2% in the 3rd quarter. SBI Securities Co. Ltd. now owns 1,084 shares of the company’s stock worth $62,000 after acquiring an additional 537 shares during the period. Jane Street Group LLC raised its holdings in GraniteShares 2x Long BABA Daily ETF by 4.9% during the first 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. IFP Advisors Inc bought a new stake in GraniteShares 2x Long BABA Daily ETF during the third quarter worth approximately $114,000. Simplex Trading LLC acquired a new stake in GraniteShares 2x Long BABA Daily ETF in the fourth quarter worth approximately $87,000. Finally, Tower Research Capital LLC TRC bought a new position in GraniteShares 2x Long BABA Daily ETF during the 2nd quarter valued at $69,000.

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.