GraniteShares 2x Long AMZN Daily ETF (NASDAQ:AMZZ) Stock Price Up 0.2% – Here’s Why

GraniteShares 2x Long AMZN Daily ETF (NASDAQ:AMZZ) shares shot up 0.2% on Thursday . The company traded as high as $24.36 and last traded at $24.20. 158,829 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 427,952 shares. The stock had previously closed at $24.15.

GraniteShares 2x Long AMZN Daily ETF Stock Performance

The firm’s 50-day moving average is $30.71 and its 200 day moving average is $31.47. The firm has a market capitalization of $41.14 million, a P/E ratio of -398.09 and a beta of 2.66.

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

Several hedge funds have recently made changes to their positions in the business. Hollencrest Capital Management bought a new stake in shares of GraniteShares 2x Long AMZN Daily ETF in the second quarter worth $62,000. Group One Trading LLC bought a new stake in GraniteShares 2x Long AMZN Daily ETF during the 2nd quarter worth about $67,000. Optiver Holding B.V. boosted its stake in shares of GraniteShares 2x Long AMZN Daily ETF by 1,269.0% during the 3rd quarter. Optiver Holding B.V. now owns 8,488 shares of the company’s stock worth $253,000 after buying an additional 7,868 shares during the last quarter. Susquehanna International Group LLP acquired a new position in shares of GraniteShares 2x Long AMZN Daily ETF during the 3rd quarter worth about $332,000. Finally, NewEdge Advisors LLC bought a new position in shares of GraniteShares 2x Long AMZN Daily ETF in the 1st quarter valued at about $694,000.

About GraniteShares 2x Long AMZN Daily ETF

The GraniteShares 2x Long AMZN Daily ETF (AMZZ) is an exchange-traded fund that mostly invests in consumer discretionary equity. The fund provides 2x leveraged exposure, less fees and expenses, to the daily price movement for shares of Amazon stock. AMZZ was launched on Mar 4, 2024 and is issued by GraniteShares.