GraniteShares 2x Long META Daily ETF (NASDAQ:FBL) Stock Falls 2.4% – Time to Sell?

GraniteShares 2x Long META Daily ETF (NASDAQ:FBL) dropped 2.4% on Wednesday. The stock traded as low as $21.96 and last traded at $22.25. Approximately 1,318,793 shares traded hands during trading, an increase of 1% from the average daily volume of 1,303,190 shares. The stock had previously closed at $22.79.

GraniteShares 2x Long META Daily ETF Stock Performance

The business has a 50-day simple moving average of $27.55 and a 200-day simple moving average of $26.79.

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. Optiver Holding B.V. lifted its position in GraniteShares 2x Long META Daily ETF (NASDAQ:FBL) by 126.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 55,671 shares of the company’s stock after acquiring an additional 31,119 shares during the quarter. Optiver Holding B.V. owned 0.78% of GraniteShares 2x Long META Daily ETF worth $1,278,000 at the end of the most recent reporting period.

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.