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

GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX) saw a significant increase in short interest during 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. Based on an average daily trading volume, of 1,079,400 shares, the days-to-cover ratio is presently 0.1 days. Approximately 3.2% of the shares of the company are sold short.

Institutional Inflows and Outflows

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

GraniteShares 2x Long BABA Daily ETF Stock Performance

NASDAQ BABX opened at $37.60 on Friday. The company’s fifty day moving average is $31.58 and its two-hundred day moving average is $23.94. GraniteShares 2x Long BABA Daily ETF has a 52-week low of $11.85 and a 52-week 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.