GraniteShares 2x Long META Daily ETF (NASDAQ:FBL) Stock Price Down 0.7% – Here’s Why

Shares of GraniteShares 2x Long META Daily ETF (NASDAQ:FBL) fell 0.7% during trading on Tuesday . The company traded as low as $30.84 and last traded at $30.95. 770,473 shares changed hands during mid-day trading, a decline of 46% from the average session volume of 1,421,022 shares. The stock had previously closed at $31.18.

GraniteShares 2x Long META Daily ETF Stock Down 4.6%

The business’s fifty day moving average price is $28.05 and its 200 day moving average price is $31.75.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. HUB Investment Partners LLC bought a new position in shares of GraniteShares 2x Long META Daily ETF in the third quarter worth about $3,478,000. SBI Securities Co. Ltd. lifted its holdings in shares of GraniteShares 2x Long META Daily ETF by 33.8% in the third quarter. SBI Securities Co. Ltd. now owns 1,971 shares of the company’s stock worth $86,000 after acquiring an additional 498 shares during the last quarter. Group One Trading LLC increased its stake in shares of GraniteShares 2x Long META Daily ETF by 80.0% in the fourth quarter. Group One Trading LLC now owns 11,678 shares of the company’s stock valued at $380,000 after buying an additional 5,189 shares during the period. Simplex Trading LLC increased its stake in shares of GraniteShares 2x Long META Daily ETF by 373.6% in the fourth quarter. Simplex Trading LLC now owns 55,753 shares of the company’s stock valued at $1,813,000 after buying an additional 43,981 shares during the period. Finally, NewEdge Advisors LLC acquired a new position in shares of GraniteShares 2x Long META Daily ETF in the third quarter valued at approximately $590,000.

GraniteShares 2x Long META Daily ETF Company Profile

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.