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

GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX) saw a significant drop in short interest in the month of October. As of October 15th, there was short interest totalling 36,200 shares, a drop of 61.6% from the September 30th total of 94,200 shares. Based on an average daily trading volume, of 222,000 shares, the days-to-cover ratio is currently 0.2 days.

GraniteShares 2x Long BABA Daily ETF Trading Up 1.9 %

Shares of NASDAQ BABX opened at $22.01 on Friday. The company’s 50-day simple moving average is $21.44 and its 200-day simple moving average is $17.17. GraniteShares 2x Long BABA Daily ETF has a 52-week low of $11.85 and a 52-week high of $32.72.

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.