GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX) Stock Price Up 16.1% – What’s Next?

GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX) rose 16.1% on Thursday . The company traded as high as $44.18 and last traded at $39.58. Approximately 6,015,362 shares were traded during mid-day trading, an increase of 490% from the average daily volume of 1,019,609 shares. The stock had previously closed at $34.09.

GraniteShares 2x Long BABA Daily ETF Stock Performance

The company’s 50 day moving average price is $20.07 and its 200 day moving average price is $19.99.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BABX. Jane Street Group LLC bought a new stake in shares of GraniteShares 2x Long BABA Daily ETF during the fourth quarter worth $288,000. Optiver Holding B.V. acquired a new stake in GraniteShares 2x Long BABA Daily ETF in the fourth quarter worth about $2,302,000. Finally, Hoey Investments Inc. acquired a new stake in GraniteShares 2x Long BABA Daily ETF in the fourth quarter worth about $26,000.

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.