GraniteShares 2x Long META Daily ETF (NASDAQ:FBL) Shares Down 1.7% – Time to Sell?

GraniteShares 2x Long META Daily ETF (NASDAQ:FBL)’s share price fell 1.7% during trading on Tuesday . The stock traded as low as $32.81 and last traded at $33.01. 401,684 shares changed hands during trading, a decline of 39% from the average session volume of 656,723 shares. The stock had previously closed at $33.58.

GraniteShares 2x Long META Daily ETF Price Performance

The stock’s fifty day simple moving average is $33.78 and its two-hundred day simple moving average is $30.15.

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

An institutional investor recently raised its position in GraniteShares 2x Long META Daily ETF stock. TRUE Private Wealth Advisors raised its position in GraniteShares 2x Long META Daily ETF (NASDAQ:FBL) by 7.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,266 shares of the company’s stock after purchasing an additional 2,809 shares during the quarter. TRUE Private Wealth Advisors owned approximately 0.87% of GraniteShares 2x Long META Daily ETF worth $1,382,000 at the end of the most recent quarter.

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.