GraniteShares 2x Long AMZN Daily ETF (NASDAQ:AMZZ) Sees Large Growth in Short Interest

GraniteShares 2x Long AMZN Daily ETF (NASDAQ:AMZZ) was the recipient of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 58,200 shares, an increase of 246.4% from the October 15th total of 16,800 shares. Based on an average trading volume of 115,900 shares, the short-interest ratio is presently 0.5 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in GraniteShares 2x Long AMZN Daily ETF stock. Hollencrest Capital Management bought a new stake in shares of GraniteShares 2x Long AMZN Daily ETF (NASDAQ:AMZZ) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,000 shares of the company’s stock, valued at approximately $26,000. Hollencrest Capital Management owned approximately 0.11% of GraniteShares 2x Long AMZN Daily ETF at the end of the most recent reporting period.

GraniteShares 2x Long AMZN Daily ETF Price Performance

AMZZ stock traded down $0.12 during trading on Tuesday, hitting $31.29. 154,387 shares of the company traded hands, compared to its average volume of 108,006. The company has a market cap of $28.79 million, a PE ratio of -516.70 and a beta of 2.84. The stock’s 50-day simple moving average is $26.51 and its 200 day simple moving average is $26.45. GraniteShares 2x Long AMZN Daily ETF has a 1 year low of $17.51 and a 1 year high of $33.05.

GraniteShares 2x Long AMZN Daily ETF Company Profile

The GraniteShares 2x Long AMZN Daily ETF (AMZZ) is an exchange-traded fund that mostly invests in consumer discretionary equity. The fund provides 2x leveraged exposure, less fees and expenses, to the daily price movement for shares of Amazon stock. AMZZ was launched on Mar 4, 2024 and is issued by GraniteShares.