GraniteShares 2x Long UBER Daily ETF (NASDAQ:UBRL) Trading Down 10.5% – Here’s What Happened

GraniteShares 2x Long UBER Daily ETF (NASDAQ:UBRL) dropped 10.5% during mid-day trading on Wednesday . The company traded as low as $12.52 and last traded at $13.12. Approximately 916,770 shares changed hands during mid-day trading, an increase of 485% from the average daily volume of 156,677 shares. The stock had previously closed at $14.66.

GraniteShares 2x Long UBER Daily ETF Trading Up 12.8%

The company’s 50 day moving average price is $14.88 and its 200 day moving average price is $16.32.

Institutional Trading of GraniteShares 2x Long UBER Daily ETF

Several large investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC raised its stake in shares of GraniteShares 2x Long UBER Daily ETF by 42.9% in the first quarter. Parallel Advisors LLC now owns 4,000 shares of the company’s stock worth $63,000 after purchasing an additional 1,200 shares during the last quarter. Optiver Holding B.V. boosted its position in GraniteShares 2x Long UBER Daily ETF by 1,149.0% in the first quarter. Optiver Holding B.V. now owns 27,927 shares of the company’s stock valued at $439,000 after buying an additional 25,691 shares during the last quarter. Group One Trading LLC acquired a new position in GraniteShares 2x Long UBER Daily ETF in the 3rd quarter worth approximately $248,000. Finally, IMC Chicago LLC acquired a new position in GraniteShares 2x Long UBER Daily ETF in the 1st quarter worth approximately $185,000.

GraniteShares 2x Long UBER Daily ETF Company Profile

The GraniteShares 2x Long UBER Daily ETF (UBRL) is an exchange-traded fund that mostly invests in industrials equity. The fund provides 2x leveraged exposure, less fees and expenses, to the daily price movement for shares of Uber Technologies, Inc stock. UBRL was launched on Sep 3, 2024 and is issued by GraniteShares.