GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX) Short Interest Down 34.7% in January

GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX) was the target of a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 78,600 shares, a decline of 34.7% from the January 15th total of 120,300 shares. Based on an average daily trading volume, of 505,000 shares, the days-to-cover ratio is currently 0.2 days.

GraniteShares 2x Long BABA Daily ETF Stock Performance

Shares of BABX stock traded up $2.69 on Friday, hitting $33.56. The company had a trading volume of 1,855,278 shares, compared to its average volume of 850,634. The company has a 50-day moving average price of $18.36 and a 200-day moving average price of $19.30. GraniteShares 2x Long BABA Daily ETF has a twelve month low of $11.85 and a twelve month high of $34.58.

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

Institutional investors and hedge funds have recently modified their holdings of the business. Hoey Investments Inc. purchased a new position in shares of GraniteShares 2x Long BABA Daily ETF in the 4th quarter valued at about $26,000. Jane Street Group LLC purchased a new position in shares of GraniteShares 2x Long BABA Daily ETF in the 4th quarter valued at about $288,000. Finally, Optiver Holding B.V. purchased a new position in shares of GraniteShares 2x Long BABA Daily ETF in the 4th quarter valued at about $2,302,000.

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.