GraniteShares 2x Long AAPL Daily ETF (NASDAQ:AAPB) Stock Break Below Fifty Day Moving Average – Time to Sell?

Shares of GraniteShares 2x Long AAPL Daily ETF (NASDAQ:AAPB) crossed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $43.72 and traded as low as $40.99. GraniteShares 2x Long AAPL Daily ETF shares last traded at $42.76, with a volume of 25,923 shares trading hands.

GraniteShares 2x Long AAPL Daily ETF Stock Performance

The firm’s 50 day moving average price is $43.72 and its two-hundred day moving average price is $36.25.

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

A hedge fund recently raised its position in GraniteShares 2x Long AAPL Daily ETF stock. Optiver Holding B.V. raised its stake in GraniteShares 2x Long AAPL Daily ETF (NASDAQ:AAPB) by 433.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,533 shares of the company’s stock after acquiring an additional 15,872 shares during the quarter. Optiver Holding B.V. owned about 3.69% of GraniteShares 2x Long AAPL Daily ETF worth $527,000 at the end of the most recent reporting period.

About GraniteShares 2x Long AAPL Daily ETF

The GraniteShares 1.75x Long AAPL Daily ETF (AAPB) is an exchange-traded fund that is based on the Apple Inc index. The fund provides 1.75x leveraged exposure, less fees and expenses, to the daily price movement for shares of Apple stock. AAPB was launched on Aug 9, 2022 and is managed by GraniteShares.