GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX) Trading Up 6.2% – Should You Buy?

GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX)’s stock price were up 6.2% during trading on Friday . The stock traded as high as $28.64 and last traded at $28.46. Approximately 605,557 shares changed hands during trading, a decline of 28% from the average daily volume of 844,894 shares. The stock had previously closed at $26.80.

GraniteShares 2x Long BABA Daily ETF Trading Up 6.2%

The firm’s 50-day moving average price is $29.00 and its 200 day moving average price is $39.04.

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

Several institutional investors have recently bought and sold shares of the stock. Simplex Trading LLC bought a new stake in GraniteShares 2x Long BABA Daily ETF during the fourth quarter worth $87,000. Genesis Financial Group LLC bought a new stake in GraniteShares 2x Long BABA Daily ETF during the fourth quarter worth $1,178,000. IFP Advisors Inc bought a new stake in GraniteShares 2x Long BABA Daily ETF during the third quarter worth $114,000. Scientech Research LLC bought a new stake in GraniteShares 2x Long BABA Daily ETF during the third quarter worth $213,000. Finally, Flow Traders U.S. LLC bought a new stake in GraniteShares 2x Long BABA Daily ETF during the third quarter worth $222,000.

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.