GraniteShares 2x Long AMZN Daily ETF (NASDAQ:AMZZ) Short Interest Down 50.9% in July

GraniteShares 2x Long AMZN Daily ETF (NASDAQ:AMZZ) saw a significant drop in short interest during the month of July. As of July 15th, there was short interest totaling 126,815 shares, a drop of 50.9% from the June 30th total of 258,066 shares. Currently, 9.3% of the shares of the company are sold short. Based on an average daily volume of 130,997 shares, the days-to-cover ratio is presently 1.0 days.

GraniteShares 2x Long AMZN Daily ETF Price Performance

Shares of NASDAQ AMZZ traded up $2.56 during trading hours on Thursday, hitting $30.00. 73,071 shares of the company’s stock were exchanged, compared to its average volume of 252,547. The company’s 50-day moving average price is $33.14 and its 200-day moving average price is $31.46. GraniteShares 2x Long AMZN Daily ETF has a 1-year low of $22.21 and a 1-year high of $43.11. The stock has a market capitalization of $40.20 million, a price-to-earnings ratio of -493.50 and a beta of 3.57.

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

Several hedge funds have recently modified their holdings of AMZZ. Group One Trading LLC bought a new position in GraniteShares 2x Long AMZN Daily ETF during the second quarter worth $67,000. Susquehanna International Group LLP bought a new position in shares of GraniteShares 2x Long AMZN Daily ETF during the 3rd quarter worth about $332,000. Prosperity Wealth Management Inc. acquired a new position in shares of GraniteShares 2x Long AMZN Daily ETF during the third quarter valued at about $763,000. NewEdge Advisors LLC acquired a new position in shares of GraniteShares 2x Long AMZN Daily ETF during the first quarter valued at about $694,000. Finally, Optiver Holding B.V. bought a new stake in shares of GraniteShares 2x Long AMZN Daily ETF in the first quarter valued at about $912,000.

About GraniteShares 2x Long AMZN Daily ETF

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.