Short Interest in GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD) Rises By 87.7%
by Tristan Rich · The Markets DailyGraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD – Get Free Report) was the recipient of a large increase in short interest in the month of August. As of August 14th, there was short interest totaling 5,962,961 shares, an increase of 87.7% from the July 30th total of 3,176,936 shares. Based on an average trading volume of 61,894,576 shares, the days-to-cover ratio is currently 0.1 days. Approximately 54.4% of the company’s shares are sold short.
Institutional Trading of GraniteShares 2x Short NVDA Daily ETF
Institutional investors and hedge funds have recently bought and sold shares of the stock. Jump Financial LLC increased its stake in shares of GraniteShares 2x Short NVDA Daily ETF by 1,202.4% in the fourth quarter. Jump Financial LLC now owns 390,688 shares of the company’s stock valued at $2,793,000 after buying an additional 360,690 shares during the period. IMC Chicago LLC bought a new position in shares of GraniteShares 2x Short NVDA Daily ETF during the first quarter worth about $2,222,000. Optiver Holding B.V. raised its position in shares of GraniteShares 2x Short NVDA Daily ETF by 1,209.1% during the first quarter. Optiver Holding B.V. now owns 175,687 shares of the company’s stock worth $1,326,000 after acquiring an additional 162,267 shares during the last quarter. Genesis Financial Group LLC lifted its stake in shares of GraniteShares 2x Short NVDA Daily ETF by 67.3% in the first quarter. Genesis Financial Group LLC now owns 114,888 shares of the company’s stock worth $867,000 after acquiring an additional 46,225 shares during the period. Finally, StoneX Group Inc. acquired a new position in shares of GraniteShares 2x Short NVDA Daily ETF in the fourth quarter worth approximately $287,000.
GraniteShares 2x Short NVDA Daily ETF Stock Up 8.6%
Shares of NVD stock traded up $0.32 during trading hours on Friday, hitting $4.05. 106,177,759 shares of the company’s stock traded hands, compared to its average volume of 72,749,219. The stock’s 50 day simple moving average is $4.73 and its 200 day simple moving average is $5.57. The stock has a market cap of $44.43 million, a PE ratio of -33.75 and a beta of -3.06. GraniteShares 2x Short NVDA Daily ETF has a 12 month low of $3.61 and a 12 month high of $11.41.
GraniteShares 2x Short NVDA Daily ETF Company Profile
The GraniteShares 2x Short NVDA Daily ETF (NVD) is an exchange-traded fund that mostly invests in information technology equity. The fund provides 2x inverse leveraged exposure, less fees and expenses, to the daily price movement for shares of NVIDIA Corporation stock. NVD was launched on Aug 21, 2023 and is issued by GraniteShares.