GraniteShares 2x Long META Daily ETF (NASDAQ:FBL) Shares Down 8.7% – Time to Sell?

GraniteShares 2x Long META Daily ETF (NASDAQ:FBL) traded down 8.7% during trading on Thursday . The stock traded as low as $31.20 and last traded at $31.66. 2,164,321 shares changed hands during mid-day trading, an increase of 228% from the average session volume of 660,204 shares. The stock had previously closed at $34.66.

GraniteShares 2x Long META Daily ETF Stock Down 8.7 %

The business has a fifty day simple moving average of $30.82 and a two-hundred day simple moving average of $27.21.

Institutional Investors 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 raised its stake in GraniteShares 2x Long META Daily ETF (NASDAQ:FBL) by 2.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,457 shares of the company’s stock after buying an additional 1,060 shares during the quarter. TRUE Private Wealth Advisors owned approximately 0.82% of GraniteShares 2x Long META Daily ETF worth $1,053,000 at the end of the most recent quarter.

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.