GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX) Sees Significant Decline in Short Interest

GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 304,420 shares, a drop of 60.2% from the August 15th total of 764,559 shares. Currently, 6.5% of the shares of the stock are sold short. Based on an average trading volume of 1,279,342 shares, the short-interest ratio is presently 0.2 days.

Institutional Trading of GraniteShares 2x Long BABA Daily ETF

Several large investors have recently added to or reduced their stakes in the company. Optiver Holding B.V. raised its stake in shares of GraniteShares 2x Long BABA Daily ETF by 189.0% in the first quarter. Optiver Holding B.V. now owns 61,099 shares of the company’s stock valued at $1,508,000 after acquiring an additional 39,958 shares during the last quarter. Jane Street Group LLC raised its position in GraniteShares 2x Long BABA Daily ETF by 4.9% in the 1st quarter. Jane Street Group LLC now owns 18,747 shares of the company’s stock valued at $668,000 after purchasing an additional 876 shares during the last quarter. DGS Capital Management LLC acquired a new position in GraniteShares 2x Long BABA Daily ETF in the first quarter worth $216,000. Flow Traders U.S. LLC bought a new stake in shares of GraniteShares 2x Long BABA Daily ETF during the third quarter worth $222,000. Finally, Scientech Research LLC acquired a new stake in shares of GraniteShares 2x Long BABA Daily ETF in the third quarter valued at $213,000.

GraniteShares 2x Long BABA Daily ETF Price Performance

Shares of GraniteShares 2x Long BABA Daily ETF stock traded up $0.13 during midday trading on Monday, hitting $17.06. 311,532 shares of the company were exchanged, compared to its average volume of 877,674. The firm has a 50 day simple moving average of $20.18 and a 200-day simple moving average of $23.29. GraniteShares 2x Long BABA Daily ETF has a 52 week low of $12.70 and a 52 week high of $66.00.

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.