Shares of GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX – Get Free Report) dropped 3.7% during mid-day trading on Friday. The company traded as low as $16.39 and last traded at $16.53. Approximately 545,517 shares changed hands during trading, a decline of 36% from the average session volume of 851,122 shares. The stock had previously closed at $17.17.
GraniteShares 2x Long BABA Daily ETF Trading Down 3.7%
The stock’s 50 day moving average is $18.65 and its 200 day moving average is $21.23.
Institutional Trading of GraniteShares 2x Long BABA Daily ETF
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Optiver Holding B.V. boosted its stake in shares of GraniteShares 2x Long BABA Daily ETF by 189.0% during the 1st quarter. Optiver Holding B.V. now owns 61,099 shares of the company’s stock worth $1,508,000 after acquiring an additional 39,958 shares in the last quarter. Retirement Planning Co of New England Inc. acquired a new stake in GraniteShares 2x Long BABA Daily ETF during the third quarter valued at $244,000. Finally, DGS Capital Management LLC bought a new stake in shares of GraniteShares 2x Long BABA Daily ETF in the 1st quarter valued at approximately $216,000.
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.
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