GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX) Stock Price Up 3.9% – Here’s Why

GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX) shares traded up 3.9% on Thursday . The stock traded as high as $18.65 and last traded at $18.30. Approximately 1,457,840 shares changed hands during mid-day trading, an increase of 64% from the average session volume of 889,178 shares. The stock had previously closed at $17.62.

GraniteShares 2x Long BABA Daily ETF Price Performance

The stock has a fifty day moving average of $21.81 and a two-hundred day moving average of $30.27.

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

Hedge funds and other institutional investors have recently modified their holdings of the company. Optiver Holding B.V. grew its holdings 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 during the period. DGS Capital Management LLC acquired a new stake in GraniteShares 2x Long BABA Daily ETF during the 1st quarter worth approximately $216,000. Simplex Trading LLC acquired a new stake in GraniteShares 2x Long BABA Daily ETF during the 4th quarter worth approximately $87,000. Genesis Financial Group LLC purchased a new position in GraniteShares 2x Long BABA Daily ETF in the fourth quarter valued at approximately $1,178,000. Finally, IFP Advisors Inc purchased a new position in GraniteShares 2x Long BABA Daily ETF in the third quarter valued at approximately $114,000.

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.