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

GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX) saw a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 96,000 shares, a growth of 164.5% from the February 28th total of 36,300 shares. Based on an average daily volume of 1,079,400 shares, the short-interest ratio is presently 0.1 days. Currently, 3.2% of the company’s shares are short sold.

Institutional Investors Weigh In On GraniteShares 2x Long BABA Daily ETF

Institutional investors have recently modified their holdings of the stock. Hoey Investments Inc. acquired a new stake in shares of GraniteShares 2x Long BABA Daily ETF in the 4th quarter valued at $26,000. Optiver Holding B.V. bought a new position in GraniteShares 2x Long BABA Daily ETF during the fourth quarter valued at about $2,302,000. Finally, Jane Street Group LLC bought a new position in GraniteShares 2x Long BABA Daily ETF during the fourth quarter valued at about $288,000.

GraniteShares 2x Long BABA Daily ETF Stock Performance

BABX stock opened at $37.60 on Friday. GraniteShares 2x Long BABA Daily ETF has a 52-week low of $11.85 and a 52-week high of $45.28. The company’s 50 day simple moving average is $31.58 and its 200-day simple moving average is $23.94.

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.