GraniteShares 2x Long UBER Daily ETF (NASDAQ:UBRL) Sees Significant Decline in Short Interest

GraniteShares 2x Long UBER Daily ETF (NASDAQ:UBRL) saw a large drop in short interest in August. As of August 14th, there was short interest totaling 30,945 shares, a drop of 73.0% from the July 30th total of 114,809 shares. Currently, 2.2% of the company’s stock are short sold. Based on an average trading volume of 296,183 shares, the days-to-cover ratio is presently 0.1 days.

Hedge Funds Weigh In On GraniteShares 2x Long UBER Daily ETF

Hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC increased its stake in GraniteShares 2x Long UBER Daily ETF by 42.9% during the 1st quarter. Parallel Advisors LLC now owns 4,000 shares of the company’s stock valued at $63,000 after purchasing an additional 1,200 shares in the last quarter. IMC Chicago LLC bought a new stake in shares of GraniteShares 2x Long UBER Daily ETF during the first quarter valued at approximately $185,000. Group One Trading LLC purchased a new position in GraniteShares 2x Long UBER Daily ETF in the 3rd quarter worth approximately $248,000. Optiver Holding B.V. raised its holdings in GraniteShares 2x Long UBER Daily ETF by 1,149.0% in the 1st quarter. Optiver Holding B.V. now owns 27,927 shares of the company’s stock worth $439,000 after acquiring an additional 25,691 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in GraniteShares 2x Long UBER Daily ETF in the 2nd quarter valued at approximately $1,242,000.

GraniteShares 2x Long UBER Daily ETF Price Performance

UBRL traded up $0.70 during midday trading on Friday, reaching $17.09. The company’s stock had a trading volume of 56,802 shares, compared to its average volume of 160,961. The stock’s 50-day moving average is $15.37 and its 200-day moving average is $15.93. GraniteShares 2x Long UBER Daily ETF has a 1 year low of $12.22 and a 1 year high of $38.35.

About GraniteShares 2x Long UBER Daily ETF

The GraniteShares 2x Long UBER Daily ETF (UBRL) is an exchange-traded fund that mostly invests in industrials equity. The fund provides 2x leveraged exposure, less fees and expenses, to the daily price movement for shares of Uber Technologies, Inc stock. UBRL was launched on Sep 3, 2024 and is issued by GraniteShares.