GraniteShares 2x Long META Daily ETF (NASDAQ:FBL) Stock Price Down 0.9% – Here’s Why

GraniteShares 2x Long META Daily ETF (NASDAQ:FBL) fell 0.9% on Friday . The company traded as low as $33.52 and last traded at $36.44. 825,919 shares traded hands during mid-day trading, a decline of 17% from the average session volume of 1,000,213 shares. The stock had previously closed at $36.76.

GraniteShares 2x Long META Daily ETF Price Performance

The company’s 50-day simple moving average is $41.05 and its 200-day simple moving average is $35.21.

Institutional Investors Weigh In On GraniteShares 2x Long META Daily ETF

A number of large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. acquired a new position in GraniteShares 2x Long META Daily ETF in the 4th quarter worth $957,000. Simplex Trading LLC lifted its stake in shares of GraniteShares 2x Long META Daily ETF by 928.1% in the fourth quarter. Simplex Trading LLC now owns 9,325 shares of the company’s stock worth $307,000 after acquiring an additional 8,418 shares in the last quarter. Jane Street Group LLC purchased a new position in GraniteShares 2x Long META Daily ETF in the fourth quarter valued at about $217,000. TRUE Private Wealth Advisors grew its stake in GraniteShares 2x Long META Daily ETF by 7.1% during the 3rd quarter. TRUE Private Wealth Advisors now owns 42,266 shares of the company’s stock valued at $1,382,000 after purchasing an additional 2,809 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in GraniteShares 2x Long META Daily ETF during the 4th quarter valued at approximately $74,000.

About GraniteShares 2x Long META Daily ETF

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.