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

GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX) was the target of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 98,200 shares, an increase of 53.9% from the October 31st total of 63,800 shares. Based on an average daily volume of 244,800 shares, the days-to-cover ratio is presently 0.4 days.

GraniteShares 2x Long BABA Daily ETF Trading Up 1.8 %

Shares of GraniteShares 2x Long BABA Daily ETF stock traded up $0.30 during trading hours on Friday, hitting $17.38. 178,299 shares of the company’s stock traded hands, compared to its average volume of 164,666. GraniteShares 2x Long BABA Daily ETF has a 12-month low of $11.85 and a 12-month high of $32.72. The company has a fifty day simple moving average of $22.79 and a 200-day simple moving average of $18.10.

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.