GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX) Stock Price Down 1.7% – Here’s What Happened

GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX)’s share price traded down 1.7% during mid-day trading on Monday . The stock traded as low as $21.40 and last traded at $21.53. 568,983 shares were traded during mid-day trading, a decline of 34% from the average session volume of 863,029 shares. The stock had previously closed at $21.91.

GraniteShares 2x Long BABA Daily ETF Stock Down 1.7%

The firm’s fifty day moving average price is $26.24 and its 200-day moving average price is $34.27.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BABX. SBI Securities Co. Ltd. grew its holdings in shares of GraniteShares 2x Long BABA Daily ETF by 98.2% in the third quarter. SBI Securities Co. Ltd. now owns 1,084 shares of the company’s stock worth $62,000 after purchasing an additional 537 shares during the last quarter. Tower Research Capital LLC TRC bought a new stake in GraniteShares 2x Long BABA Daily ETF in the second quarter valued at $69,000. Simplex Trading LLC bought a new stake in GraniteShares 2x Long BABA Daily ETF in the fourth quarter valued at $87,000. IFP Advisors Inc bought a new stake in GraniteShares 2x Long BABA Daily ETF in the third quarter valued at $114,000. Finally, Scientech Research LLC bought a new stake in GraniteShares 2x Long BABA Daily ETF in the third quarter valued at $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.