GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX) Short Interest Down 56.7% in August

GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX) was the recipient of a significant decline in short interest in August. As of August 14th, there was short interest totaling 764,559 shares, a decline of 56.7% from the July 30th total of 1,764,220 shares. Currently, 16.3% of the company’s shares are short sold. Based on an average trading volume of 677,688 shares, the short-interest ratio is currently 1.1 days.

GraniteShares 2x Long BABA Daily ETF Stock Up 4.4%

Shares of GraniteShares 2x Long BABA Daily ETF stock traded up $0.85 during trading hours on Friday, hitting $20.16. The company’s stock had a trading volume of 631,743 shares, compared to its average volume of 901,864. The stock has a 50 day moving average of $19.52 and a 200 day moving average of $24.98. GraniteShares 2x Long BABA Daily ETF has a 12 month low of $12.70 and a 12 month high of $66.00.

Institutional Trading of GraniteShares 2x Long BABA Daily ETF

Several hedge funds and other institutional investors have recently modified their holdings of BABX. Tower Research Capital LLC TRC bought a new stake in shares of GraniteShares 2x Long BABA Daily ETF in the second quarter valued at about $69,000. Simplex Trading LLC bought a new stake in GraniteShares 2x Long BABA Daily ETF in the 4th quarter valued at approximately $87,000. Scientech Research LLC acquired a new position in GraniteShares 2x Long BABA Daily ETF during the 3rd quarter worth approximately $213,000. DGS Capital Management LLC bought a new position in shares of GraniteShares 2x Long BABA Daily ETF during the 1st quarter worth approximately $216,000. Finally, Flow Traders U.S. LLC bought a new position in shares of GraniteShares 2x Long BABA Daily ETF during the 3rd quarter worth approximately $222,000.

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.