GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX) Short Interest Down 34.7% in January

GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX) saw a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 78,600 shares, a drop of 34.7% from the January 15th total of 120,300 shares. Based on an average daily volume of 505,000 shares, the short-interest ratio is presently 0.2 days.

GraniteShares 2x Long BABA Daily ETF Price Performance

Shares of NASDAQ BABX traded up $2.69 during midday trading on Friday, reaching $33.56. The company’s stock had a trading volume of 1,855,278 shares, compared to its average volume of 850,634. GraniteShares 2x Long BABA Daily ETF has a fifty-two week low of $11.85 and a fifty-two week high of $34.58. The stock has a 50 day simple moving average of $18.70 and a 200-day simple moving average of $19.46.

Institutional Trading of GraniteShares 2x Long BABA Daily ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in BABX. Hoey Investments Inc. acquired a new stake in shares of GraniteShares 2x Long BABA Daily ETF in the fourth quarter valued at approximately $26,000. Jane Street Group LLC bought a new position in GraniteShares 2x Long BABA Daily ETF in the fourth quarter valued at approximately $288,000. Finally, Optiver Holding B.V. bought a new position in GraniteShares 2x Long BABA Daily ETF in the fourth quarter valued at approximately $2,302,000.

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.