GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX – Get Free Report) saw a large increase in short interest in the month of September. As of September 15th, there was short interest totaling 1,262,623 shares, an increase of 314.8% from the August 31st total of 304,420 shares. Based on an average daily volume of 448,153 shares, the days-to-cover ratio is presently 2.8 days. Currently, 18.6% of the shares of the company are sold short.
Hedge Funds Weigh In On GraniteShares 2x Long BABA Daily ETF
A hedge fund recently bought a new position in GraniteShares 2x Long BABA Daily ETF stock. DGS Capital Management LLC purchased a new stake in shares of GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX – Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 8,734 shares of the company’s stock, valued at approximately $216,000. DGS Capital Management LLC owned 0.20% of GraniteShares 2x Long BABA Daily ETF as of its most recent SEC filing.
GraniteShares 2x Long BABA Daily ETF Price Performance
NASDAQ:BABX opened at $17.23 on Friday. The stock has a 50-day simple moving average of $20.09 and a two-hundred day simple moving average of $22.37. GraniteShares 2x Long BABA Daily ETF has a 52-week low of $12.70 and a 52-week high of $66.00.
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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