GraniteShares 2x Long RIVN Daily ETF (NASDAQ:RVNL) Sees Large Drop in Short Interest
by Mitch Edgeman · The Markets DailyGraniteShares 2x Long RIVN Daily ETF (NASDAQ:RVNL – Get Free Report) saw a large decrease in short interest in February. As of February 27th, there was short interest totaling 10,300 shares, a decrease of 21.6% from the February 12th total of 13,141 shares. Based on an average daily volume of 29,110 shares, the short-interest ratio is currently 0.4 days. Approximately 4.5% of the company’s shares are short sold. Approximately 4.5% of the company’s shares are short sold. Based on an average daily volume of 29,110 shares, the short-interest ratio is currently 0.4 days.
GraniteShares 2x Long RIVN Daily ETF Price Performance
Shares of RVNL stock traded down $1.88 on Friday, hitting $28.50. 70,998 shares of the company’s stock traded hands, compared to its average volume of 45,579. The company’s fifty day simple moving average is $36.34 and its 200 day simple moving average is $38.84. GraniteShares 2x Long RIVN Daily ETF has a one year low of $24.49 and a one year high of $75.17.
Institutional Investors Weigh In On GraniteShares 2x Long RIVN Daily ETF
A number of hedge funds and other institutional investors have recently modified their holdings of RVNL. Jane Street Group LLC purchased a new stake in GraniteShares 2x Long RIVN Daily ETF during the 4th quarter valued at about $231,000. Optiver Holding B.V. grew its position in GraniteShares 2x Long RIVN Daily ETF by 3.5% during the 3rd quarter. Optiver Holding B.V. now owns 7,503 shares of the company’s stock worth $281,000 after acquiring an additional 252 shares during the last quarter. Finally, Austin Wealth Management LLC purchased a new position in GraniteShares 2x Long RIVN Daily ETF in the 3rd quarter worth approximately $423,000.
GraniteShares 2x Long RIVN Daily ETF Company Profile
GraniteShares ETF Trust – GraniteShares 2x Long RIVN Daily ETF is an exchange traded fund launched by GraniteShares Inc The fund is managed by GraniteShares Advisors LLC. It invests in public equity markets. The fund invests through derivatives in stocks of companies operating across automotive industry, designing, developing and manufacturing electric vehicles and accessories sectors. It uses derivatives such as swaps to create its portfolio. It invests in growth and value stocks of companies across diversified market capitalization.