GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX) Short Interest Down 37.2% in May

GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX) was the target of a large decline in short interest during the month of May. As of May 29th, there was short interest totaling 740,344 shares, a decline of 37.2% from the May 14th total of 1,179,421 shares. Based on an average trading volume of 738,846 shares, the days-to-cover ratio is currently 1.0 days. Currently, 16.7% of the shares of the company are sold short.

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

A number of institutional investors have recently made changes to their positions in BABX. Optiver Holding B.V. increased its holdings in shares of GraniteShares 2x Long BABA Daily ETF by 189.0% in the 1st quarter. Optiver Holding B.V. now owns 61,099 shares of the company’s stock valued at $1,508,000 after acquiring an additional 39,958 shares during the last quarter. Genesis Financial Group LLC bought a new position in GraniteShares 2x Long BABA Daily ETF during the 4th quarter worth $1,178,000. DGS Capital Management LLC bought a new position in GraniteShares 2x Long BABA Daily ETF during the 1st quarter worth $216,000. Flow Traders U.S. LLC bought a new position in GraniteShares 2x Long BABA Daily ETF during the 3rd quarter worth $222,000. Finally, Scientech Research LLC bought a new position in GraniteShares 2x Long BABA Daily ETF during the 3rd quarter worth $213,000.

GraniteShares 2x Long BABA Daily ETF Stock Performance

Shares of NASDAQ BABX opened at $19.31 on Monday. GraniteShares 2x Long BABA Daily ETF has a twelve month low of $18.24 and a twelve month high of $66.00. The business has a 50 day simple moving average of $25.93 and a 200-day simple moving average of $33.65.

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.