GraniteShares 2x Long META Daily ETF (NASDAQ:FBL) Trading Up 1.4% – Still a Buy?

GraniteShares 2x Long META Daily ETF (NASDAQ:FBL) shares were up 1.4% during mid-day trading on Thursday . The company traded as high as $27.71 and last traded at $26.47. Approximately 2,342,203 shares traded hands during mid-day trading, an increase of 60% from the average daily volume of 1,465,524 shares. The stock had previously closed at $26.10.

GraniteShares 2x Long META Daily ETF Stock Performance

The company’s 50 day simple moving average is $26.42 and its two-hundred day simple moving average is $29.40.

Institutional Trading of GraniteShares 2x Long META Daily ETF

Several hedge funds have recently made changes to their positions in FBL. Osaic Holdings Inc. acquired a new stake in shares of GraniteShares 2x Long META Daily ETF during the second quarter worth about $27,000. Federation des caisses Desjardins du Quebec lifted its position in shares of GraniteShares 2x Long META Daily ETF by 35.0% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,350 shares of the company’s stock worth $44,000 after purchasing an additional 350 shares in the last quarter. SBI Securities Co. Ltd. lifted its position in shares of GraniteShares 2x Long META Daily ETF by 24.5% during the fourth quarter. SBI Securities Co. Ltd. now owns 2,454 shares of the company’s stock worth $80,000 after purchasing an additional 483 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of GraniteShares 2x Long META Daily ETF by 1,231.8% during the fourth quarter. Larson Financial Group LLC now owns 2,810 shares of the company’s stock worth $91,000 after purchasing an additional 2,599 shares in the last quarter. Finally, Group One Trading LLC acquired a new stake in shares of GraniteShares 2x Long META Daily ETF during the second quarter worth about $252,000.

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.