GraniteShares 2x Long AMZN Daily ETF (NASDAQ:AMZZ – Get Free Report) was the recipient of a large drop in short interest in the month of July. As of July 15th, there was short interest totaling 126,815 shares, a drop of 50.9% from the June 30th total of 258,066 shares. Based on an average daily trading volume, of 130,997 shares, the days-to-cover ratio is presently 1.0 days. Currently, 9.3% of the shares of the stock are short sold.
GraniteShares 2x Long AMZN Daily ETF Stock Down 2.7%
Shares of NASDAQ:AMZZ traded down $0.78 during midday trading on Wednesday, hitting $27.80. The stock had a trading volume of 17,559 shares, compared to its average volume of 253,022. The company’s 50-day moving average price is $33.37 and its 200-day moving average price is $31.52. GraniteShares 2x Long AMZN Daily ETF has a fifty-two week low of $22.21 and a fifty-two week high of $43.11. The company has a market capitalization of $37.25 million, a P/E ratio of -457.31 and a beta of 3.57.
Institutional Investors Weigh In On GraniteShares 2x Long AMZN Daily ETF
Several institutional investors and hedge funds have recently added to or reduced their stakes in AMZZ. Optiver Holding B.V. acquired a new stake in shares of GraniteShares 2x Long AMZN Daily ETF in the 1st quarter valued at $912,000. Susquehanna International Group LLP bought a new stake in shares of GraniteShares 2x Long AMZN Daily ETF during the 3rd quarter worth $332,000. Prosperity Wealth Management Inc. acquired a new stake in GraniteShares 2x Long AMZN Daily ETF in the third quarter valued at about $763,000. Group One Trading LLC boosted its stake in GraniteShares 2x Long AMZN Daily ETF by 412.6% in the third quarter. Group One Trading LLC now owns 11,068 shares of the company’s stock valued at $329,000 after buying an additional 8,909 shares in the last quarter. Finally, NewEdge Advisors LLC bought a new position in GraniteShares 2x Long AMZN Daily ETF in the first quarter valued at about $694,000.
About GraniteShares 2x Long AMZN Daily ETF
The GraniteShares 2x Long AMZN Daily ETF (AMZZ) is an exchange-traded fund that mostly invests in consumer discretionary equity. The fund provides 2x leveraged exposure, less fees and expenses, to the daily price movement for shares of Amazon stock. AMZZ was launched on Mar 4, 2024 and is issued by GraniteShares.
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