GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD – Get Free Report) saw a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 385,500 shares, a growth of 159.2% from the February 28th total of 148,700 shares. Currently, 14.4% of the company’s stock are sold short. Based on an average trading volume of 3,898,700 shares, the short-interest ratio is presently 0.1 days.
GraniteShares 2x Short NVDA Daily ETF Stock Performance
NVD traded up $1.10 during trading on Friday, hitting $33.94. The stock had a trading volume of 3,738,181 shares, compared to its average volume of 1,971,021. The stock has a 50 day simple moving average of $29.09 and a two-hundred day simple moving average of $32.20. The company has a market capitalization of $90.96 million, a PE ratio of -282.83 and a beta of -4.30. GraniteShares 2x Short NVDA Daily ETF has a twelve month low of $22.16 and a twelve month high of $171.50.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in NVD. SBI Securities Co. Ltd. acquired a new stake in GraniteShares 2x Short NVDA Daily ETF in the fourth quarter worth about $31,000. Tower Research Capital LLC TRC purchased a new position in shares of GraniteShares 2x Short NVDA Daily ETF in the 4th quarter valued at approximately $300,000. Trek Financial LLC acquired a new stake in GraniteShares 2x Short NVDA Daily ETF in the 4th quarter worth approximately $5,742,000. Finally, IHT Wealth Management LLC purchased a new stake in GraniteShares 2x Short NVDA Daily ETF during the 3rd quarter worth approximately $1,232,000.
About GraniteShares 2x Short NVDA Daily ETF
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.
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