GraniteShares 2x Long META Daily ETF (NASDAQ:FBL) Shares Up 6.7% – Still a Buy?

GraniteShares 2x Long META Daily ETF (NASDAQ:FBL)’s stock price shot up 6.7% on Friday . The stock traded as high as $19.79 and last traded at $19.69. 2,252,568 shares were traded during mid-day trading, an increase of 56% from the average session volume of 1,441,457 shares. The stock had previously closed at $18.46.

GraniteShares 2x Long META Daily ETF Trading Up 6.7%

The company’s 50-day simple moving average is $23.86 and its 200-day simple moving average is $27.04.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FBL. Simplex Trading LLC raised its holdings in shares of GraniteShares 2x Long META Daily ETF by 373.6% in the 4th quarter. Simplex Trading LLC now owns 55,753 shares of the company’s stock valued at $1,813,000 after purchasing an additional 43,981 shares during the period. Optiver Holding B.V. lifted its stake in GraniteShares 2x Long META Daily ETF by 126.7% in the 1st quarter. Optiver Holding B.V. now owns 55,671 shares of the company’s stock valued at $1,278,000 after purchasing an additional 31,119 shares during the last quarter. StoneX Group Inc. bought a new position in GraniteShares 2x Long META Daily ETF during the fourth quarter worth about $662,000. Jane Street Group LLC grew its holdings in GraniteShares 2x Long META Daily ETF by 164.6% during the first quarter. Jane Street Group LLC now owns 17,428 shares of the company’s stock worth $531,000 after purchasing an additional 10,841 shares during the period. Finally, NewEdge Advisors LLC acquired a new position in GraniteShares 2x Long META Daily ETF during the third quarter worth approximately $590,000.

GraniteShares 2x Long META Daily ETF Company Profile

The GraniteShares 1.5x Long Meta Daily ETF (FBL) is an exchange-traded fund that mostly invests in communication services equity. The fund provides 1.5x leveraged exposure, less fees and expenses, to the daily price movement for shares of Meta Platforms, Inc Class A stock. FBL was launched on Dec 13, 2022 and is managed by GraniteShares.