GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Sees Significant Drop in Short Interest

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) was the recipient of a significant decline in short interest in February. As of February 15th, there was short interest totalling 9,850,000 shares, a decline of 43.0% from the January 31st total of 17,280,000 shares. Based on an average daily volume of 21,260,900 shares, the short-interest ratio is currently 0.5 days.

GraniteShares 2x Long NVDA Daily ETF Stock Performance

NVDL traded up $3.68 on Friday, reaching $51.44. 30,996,158 shares of the company traded hands, compared to its average volume of 25,487,467. The stock’s 50 day moving average price is $63.59 and its 200-day moving average price is $65.88. GraniteShares 2x Long NVDA Daily ETF has a 52-week low of $28.29 and a 52-week high of $91.70.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NVDL. Strategic Blueprint LLC purchased a new position in GraniteShares 2x Long NVDA Daily ETF during the third quarter valued at approximately $351,000. Vestor Capital LLC acquired a new stake in GraniteShares 2x Long NVDA Daily ETF in the third quarter valued at approximately $300,000. NorthRock Partners LLC lifted its stake in GraniteShares 2x Long NVDA Daily ETF by 19.5% in the third quarter. NorthRock Partners LLC now owns 5,737 shares of the company’s stock valued at $334,000 after acquiring an additional 937 shares during the last quarter. Hollencrest Capital Management lifted its stake in GraniteShares 2x Long NVDA Daily ETF by 453.4% in the third quarter. Hollencrest Capital Management now owns 5,755 shares of the company’s stock valued at $335,000 after acquiring an additional 4,715 shares during the last quarter. Finally, Sigma Planning Corp acquired a new stake in GraniteShares 2x Long NVDA Daily ETF in the third quarter valued at approximately $428,000.

About GraniteShares 2x Long NVDA Daily ETF

The GraniteShares 1.5x Long NVDA Daily ETF (NVDL) is an exchange-traded fund that mostly invests in information technology equity. The fund provides 1.5x leveraged exposure, less fees and expenses, to the daily price movement for shares of NVIDIA Corporation stock. NVDL was launched on Dec 13, 2022 and is managed by GraniteShares.