GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX – Get Free Report) saw a large increase in short interest in the month of July. As of July 31st, there was short interest totaling 1,764,220 shares, an increase of 110.7% from the July 15th total of 837,278 shares. Based on an average daily volume of 639,436 shares, the days-to-cover ratio is presently 2.8 days. Currently, 37.5% of the shares of the company are sold short.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the stock. Jane Street Group LLC increased its holdings 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 worth $668,000 after acquiring an additional 876 shares in the last quarter. Simplex Trading LLC bought a new stake in GraniteShares 2x Long BABA Daily ETF during the 4th quarter worth approximately $87,000. Tower Research Capital LLC TRC purchased a new position in GraniteShares 2x Long BABA Daily ETF during the second quarter valued at approximately $69,000. Scientech Research LLC purchased a new position in GraniteShares 2x Long BABA Daily ETF during the third quarter valued at approximately $213,000. Finally, Flow Traders U.S. LLC bought a new position in shares of GraniteShares 2x Long BABA Daily ETF in the third quarter worth approximately $222,000.
GraniteShares 2x Long BABA Daily ETF Price Performance
NASDAQ BABX traded up $0.54 on Friday, hitting $22.17. 840,707 shares of the company traded hands, compared to its average volume of 865,734. The business’s 50 day moving average price is $19.03 and its 200-day moving average price is $26.66. 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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