GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX) Short Interest Down 56.7% in August

GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX) was the target of a large drop in short interest in the month of August. As of August 14th, there was short interest totaling 764,559 shares, a drop of 56.7% from the July 30th total of 1,764,220 shares. Approximately 16.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 677,688 shares, the days-to-cover ratio is currently 1.1 days.

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

Several large investors have recently made changes to their positions in the company. Optiver Holding B.V. increased 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 worth $1,508,000 after purchasing an additional 39,958 shares in the last quarter. Jane Street Group LLC grew its stake in GraniteShares 2x Long BABA Daily ETF by 4.9% during the first quarter. Jane Street Group LLC now owns 18,747 shares of the company’s stock worth $668,000 after buying an additional 876 shares during the last quarter. DGS Capital Management LLC bought a new position in shares of GraniteShares 2x Long BABA Daily ETF in the first quarter valued at approximately $216,000. Flow Traders U.S. LLC bought a new position in shares of GraniteShares 2x Long BABA Daily ETF in the third quarter valued at approximately $222,000. Finally, Scientech Research LLC acquired a new position in shares of GraniteShares 2x Long BABA Daily ETF in the 3rd quarter worth approximately $213,000.

GraniteShares 2x Long BABA Daily ETF Trading Down 5.0%

Shares of NASDAQ:BABX opened at $19.15 on Monday. The business’s fifty day moving average price is $19.52 and its two-hundred day moving average price is $24.85. GraniteShares 2x Long BABA Daily ETF has a fifty-two week low of $12.70 and a fifty-two week high of $66.00.

GraniteShares 2x Long BABA Daily ETF Company Profile

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.