GraniteShares 2x Long META Daily ETF (NASDAQ:FBL) Shares Down 3.1% – Here’s Why

Shares of GraniteShares 2x Long META Daily ETF (NASDAQ:FBL) fell 3.1% during mid-day trading on Thursday . The company traded as low as $44.75 and last traded at $45.28. 566,522 shares traded hands during mid-day trading, a decline of 30% from the average session volume of 815,046 shares. The stock had previously closed at $46.73.

GraniteShares 2x Long META Daily ETF Price Performance

The business’s 50-day simple moving average is $46.09 and its 200-day simple moving average is $38.45.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FBL. Osaic Holdings Inc. bought a new stake in GraniteShares 2x Long META Daily ETF in the second quarter worth approximately $27,000. Group One Trading LLC bought a new stake in GraniteShares 2x Long META Daily ETF in the second quarter worth approximately $252,000. StoneX Group Inc. bought a new stake in GraniteShares 2x Long META Daily ETF in the second quarter worth approximately $370,000. Walleye Capital LLC bought a new stake in GraniteShares 2x Long META Daily ETF in the second quarter worth approximately $299,000. Finally, SBI Securities Co. Ltd. grew its position in GraniteShares 2x Long META Daily ETF by 101.2% in the second quarter. SBI Securities Co. Ltd. now owns 1,473 shares of the company’s stock worth $67,000 after acquiring an additional 741 shares in the last quarter.

GraniteShares 2x Long META Daily ETF Company Profile

The GraniteShares 1.5x Long Meta Daily ETF (FBL) is an exchange-traded fund that mostly invests in communication services equity. The fund provides 1.5x leveraged exposure, less fees and expenses, to the daily price movement for shares of Meta Platforms, Inc Class A stock. FBL was launched on Dec 13, 2022 and is managed by GraniteShares.