Short Interest in GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX) Grows By 164.5%

GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX) was the target of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 96,000 shares, an increase of 164.5% from the February 28th total of 36,300 shares. Currently, 3.2% of the company’s shares are short sold. Based on an average daily trading volume, of 1,079,400 shares, the short-interest ratio is currently 0.1 days.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BABX. Optiver Holding B.V. purchased a new position in GraniteShares 2x Long BABA Daily ETF during the 4th quarter worth $2,302,000. Jane Street Group LLC purchased a new position in shares of GraniteShares 2x Long BABA Daily ETF during the fourth quarter worth about $288,000. Finally, Hoey Investments Inc. acquired a new position in GraniteShares 2x Long BABA Daily ETF in the 4th quarter valued at about $26,000.

GraniteShares 2x Long BABA Daily ETF Stock Performance

Shares of BABX traded down $1.85 during midday trading on Friday, hitting $35.75. The company had a trading volume of 695,967 shares, compared to its average volume of 439,555. The company’s 50-day simple moving average is $31.97 and its 200-day simple moving average is $24.08. GraniteShares 2x Long BABA Daily ETF has a 1 year low of $11.85 and a 1 year high of $45.28.

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.