GraniteShares 2x Long AMZN Daily ETF (NASDAQ:AMZZ) Sees Significant Growth in Short Interest

GraniteShares 2x Long AMZN Daily ETF (NASDAQ:AMZZ) was the recipient of a significant growth in short interest in the month of December. As of December 31st, there was short interest totaling 179,015 shares, a growth of 508.1% from the December 15th total of 29,440 shares. Based on an average daily trading volume, of 154,170 shares, the short-interest ratio is presently 1.2 days. Approximately 10.2% of the company’s shares are short sold. Approximately 10.2% of the company’s shares are short sold. Based on an average daily trading volume, of 154,170 shares, the short-interest ratio is presently 1.2 days.

GraniteShares 2x Long AMZN Daily ETF Trading Down 0.7%

AMZZ traded down $0.26 during trading on Monday, hitting $35.67. 214,109 shares of the company’s stock were exchanged, compared to its average volume of 310,073. GraniteShares 2x Long AMZN Daily ETF has a 1 year low of $17.77 and a 1 year high of $41.70. The stock has a 50 day moving average price of $32.39 and a 200 day moving average price of $31.95. The firm has a market cap of $62.42 million, a P/E ratio of -586.77 and a beta of 2.66.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC purchased a new stake in shares of GraniteShares 2x Long AMZN Daily ETF in the first quarter worth about $694,000. Prosperity Wealth Management Inc. purchased a new stake in shares of GraniteShares 2x Long AMZN Daily ETF during the 3rd quarter valued at about $763,000. Susquehanna International Group LLP acquired a new position in GraniteShares 2x Long AMZN Daily ETF during the 3rd quarter worth approximately $332,000. Group One Trading LLC boosted its holdings in GraniteShares 2x Long AMZN Daily ETF by 412.6% in the 3rd quarter. Group One Trading LLC now owns 11,068 shares of the company’s stock worth $329,000 after acquiring an additional 8,909 shares during the period. Finally, Optiver Holding B.V. boosted its holdings in GraniteShares 2x Long AMZN Daily ETF by 1,269.0% in the 3rd quarter. Optiver Holding B.V. now owns 8,488 shares of the company’s stock worth $253,000 after acquiring an additional 7,868 shares during the period.

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.