GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX) Short Interest Update

GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX) was the recipient of a large 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 stock are sold short. Based on an average trading volume of 677,688 shares, the short-interest ratio is presently 1.1 days.

GraniteShares 2x Long BABA Daily ETF Stock Up 4.4%

Shares of BABX traded up $0.85 during midday trading on Friday, reaching $20.16. 631,743 shares of the stock were exchanged, compared to its average volume of 901,864. GraniteShares 2x Long BABA Daily ETF has a twelve month low of $12.70 and a twelve month high of $66.00. The stock’s 50 day simple moving average is $19.52 and its 200 day simple moving average is $24.98.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BABX. Optiver Holding B.V. lifted its holdings in shares of GraniteShares 2x Long BABA Daily ETF by 189.0% in the 1st quarter. Optiver Holding B.V. now owns 61,099 shares of the company’s stock worth $1,508,000 after purchasing an additional 39,958 shares in the last quarter. DGS Capital Management LLC bought a new stake in GraniteShares 2x Long BABA Daily ETF during the 1st quarter worth approximately $216,000. Flow Traders U.S. LLC bought a new position in shares of GraniteShares 2x Long BABA Daily ETF in the third quarter valued at approximately $222,000. Scientech Research LLC bought a new position in GraniteShares 2x Long BABA Daily ETF during the third quarter valued at about $213,000. Finally, Tower Research Capital LLC TRC bought a new position in shares of GraniteShares 2x Long BABA Daily ETF during the 2nd quarter valued at approximately $69,000.

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.