GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD) Short Interest Update

GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD) was the target of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 122,000 shares, a drop of 96.8% from the October 15th total of 3,790,000 shares. Based on an average daily trading volume, of 1,505,900 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Trading of GraniteShares 2x Short NVDA Daily ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in NVD. Scientech Research LLC acquired a new position in shares of GraniteShares 2x Short NVDA Daily ETF during the second quarter worth approximately $178,000. Ground Swell Capital LLC boosted its stake in GraniteShares 2x Short NVDA Daily ETF by 117.5% in the second quarter. Ground Swell Capital LLC now owns 21,929 shares of the company’s stock valued at $48,000 after acquiring an additional 11,847 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of GraniteShares 2x Short NVDA Daily ETF in the 2nd quarter worth $33,000. Finally, Midland Wealth Advisors LLC acquired a new position in shares of GraniteShares 2x Short NVDA Daily ETF during the 2nd quarter worth about $44,000.

GraniteShares 2x Short NVDA Daily ETF Trading Down 4.1 %

NVD stock traded down $1.20 during trading on Tuesday, hitting $27.77. 1,999,281 shares of the stock traded hands, compared to its average volume of 859,325. The stock has a market cap of $82.20 million, a price-to-earnings ratio of -241.42 and a beta of -4.30. The company has a 50 day simple moving average of $40.02 and a 200 day simple moving average of $58.62. GraniteShares 2x Short NVDA Daily ETF has a one year low of $27.25 and a one year high of $636.29.

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.