GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX) Sees Significant Drop in Short Interest

GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX) was the recipient of a large drop in short interest in the month of December. As of December 31st, there was short interest totalling 51,800 shares, a drop of 21.8% from the December 15th total of 66,200 shares. Based on an average trading volume of 266,100 shares, the days-to-cover ratio is currently 0.2 days.

GraniteShares 2x Long BABA Daily ETF Stock Up 6.5 %

Shares of BABX stock traded up $0.98 during trading hours on Friday, reaching $16.09. 550,997 shares of the company’s stock were exchanged, compared to its average volume of 300,881. GraniteShares 2x Long BABA Daily ETF has a fifty-two week low of $11.85 and a fifty-two week high of $32.72. The business has a fifty day moving average price of $16.75 and a 200-day moving average price of $18.35.

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.