GraniteShares 2x Long META Daily ETF (NASDAQ:FBL) Trading Down 1.7% – Should You Sell?

Shares of GraniteShares 2x Long META Daily ETF (NASDAQ:FBL) were down 1.7% during trading on Tuesday . The stock traded as low as $32.81 and last traded at $33.01. Approximately 401,684 shares changed hands during mid-day trading, a decline of 39% from the average daily volume of 656,723 shares. The stock had previously closed at $33.58.

GraniteShares 2x Long META Daily ETF Stock Performance

The company’s 50 day moving average price is $33.78 and its 200 day moving average price is $30.15.

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

A hedge fund recently raised its stake in GraniteShares 2x Long META Daily ETF stock. TRUE Private Wealth Advisors increased its position in GraniteShares 2x Long META Daily ETF (NASDAQ:FBL) by 7.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,266 shares of the company’s stock after acquiring an additional 2,809 shares during the quarter. TRUE Private Wealth Advisors owned about 0.87% of GraniteShares 2x Long META Daily ETF worth $1,382,000 at the end of the most recent quarter.

About GraniteShares 2x Long META Daily ETF

The GraniteShares 1.5x Long Meta Daily ETF (FBL) is an exchange-traded fund that mostly invests in communication services equity. The fund provides 1.5x leveraged exposure, less fees and expenses, to the daily price movement for shares of Meta Platforms, Inc Class A stock. FBL was launched on Dec 13, 2022 and is managed by GraniteShares.