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

GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX) saw a significant increase in short interest in June. As of June 30th, there was short interest totaling 1,146,161 shares, an increase of 119.6% from the June 15th total of 521,944 shares. Currently, 21.3% of the shares of the company are sold short. Based on an average daily volume of 946,276 shares, the days-to-cover ratio is presently 1.2 days.

GraniteShares 2x Long BABA Daily ETF Stock Performance

BABX traded up $2.12 during trading on Wednesday, reaching $20.79. 1,357,010 shares of the company were exchanged, compared to its average volume of 892,692. The company’s 50-day moving average is $21.33 and its two-hundred day moving average is $29.85. GraniteShares 2x Long BABA Daily ETF has a 12-month low of $12.70 and a 12-month high of $66.00.

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

A number of institutional investors and hedge funds have recently modified their holdings of the company. Optiver Holding B.V. grew its position 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 valued at $1,508,000 after purchasing an additional 39,958 shares in the last quarter. Genesis Financial Group LLC purchased a new stake in shares of GraniteShares 2x Long BABA Daily ETF in the fourth quarter worth $1,178,000. DGS Capital Management LLC bought a new stake in GraniteShares 2x Long BABA Daily ETF during the first quarter valued at $216,000. Flow Traders U.S. LLC bought a new stake in GraniteShares 2x Long BABA Daily ETF during the third quarter valued at $222,000. Finally, Scientech Research LLC purchased a new position in GraniteShares 2x Long BABA Daily ETF during the third quarter worth about $213,000.

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.