GraniteShares 2x Long MU Daily ETF (NASDAQ:MULL) Shares Down 8.7% – What’s Next?

GraniteShares 2x Long MU Daily ETF (NASDAQ:MULL)’s share price fell 8.7% during mid-day trading on Thursday. The company traded as low as $24.55 and last traded at $24.1330. Approximately 3,096,905 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 9,603,852 shares. The stock had previously closed at $26.43.

GraniteShares 2x Long MU Daily ETF Trading Down 1.5%

The stock’s 50-day simple moving average is $22.30 and its two-hundred day simple moving average is $20.54.

Hedge Funds Weigh In On GraniteShares 2x Long MU Daily ETF

Hedge funds and other institutional investors have recently made changes to their positions in the company. Optiver Holding B.V. raised its stake in GraniteShares 2x Long MU Daily ETF by 1,046.4% in the 1st quarter. Optiver Holding B.V. now owns 10,719 shares of the company’s stock valued at $1,140,000 after purchasing an additional 9,784 shares during the last quarter. Group One Trading LLC acquired a new stake in GraniteShares 2x Long MU Daily ETF during the 1st quarter worth $41,000. Finally, Mirae Asset Securities USA Inc. purchased a new stake in shares of GraniteShares 2x Long MU Daily ETF during the first quarter worth $1,064,000.

GraniteShares 2x Long MU Daily ETF Company Profile

The GraniteShares 2x Long MU Daily ETF (MULL) is an exchange-traded fund that mostly invests in information technology equity. The fund provides 2x leveraged exposure, less fees and expenses, to the daily price movement for shares of Micron Technology Inc (ticker: MU) stock. MULL was launched on Nov 11, 2024 and is issued by GraniteShares.