GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX) Stock Price Up 1.5% – What’s Next?

GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX) shot up 1.5% during mid-day trading on Friday . The stock traded as high as $29.90 and last traded at $29.13. 410,253 shares traded hands during trading, a decline of 56% from the average session volume of 941,786 shares. The stock had previously closed at $28.69.

GraniteShares 2x Long BABA Daily ETF Stock Performance

The stock has a 50 day moving average price of $39.82 and a 200-day moving average price of $42.95.

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

Large investors have recently bought and sold shares of the stock. SBI Securities Co. Ltd. lifted its position in 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 valued at $62,000 after purchasing an additional 537 shares during the last quarter. Tower Research Capital LLC TRC bought a new position in shares of GraniteShares 2x Long BABA Daily ETF in the second quarter worth approximately $69,000. Simplex Trading LLC purchased a new position in shares of GraniteShares 2x Long BABA Daily ETF in the fourth quarter worth $87,000. IFP Advisors Inc purchased a new position in shares of GraniteShares 2x Long BABA Daily ETF in the third quarter worth $114,000. Finally, Scientech Research LLC bought a new stake in GraniteShares 2x Long BABA Daily ETF during the 3rd quarter valued at $213,000.

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.