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

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 18,370,000 shares, an increase of 15.6% from the August 15th total of 15,890,000 shares. Based on an average daily volume of 24,529,300 shares, the days-to-cover ratio is presently 0.7 days.

Hedge Funds Weigh In On GraniteShares 2x Long NVDA Daily ETF

A number of large investors have recently made changes to their positions in NVDL. Jane Street Group LLC purchased a new position in GraniteShares 2x Long NVDA Daily ETF during the 1st quarter valued at $10,343,000. IMC Chicago LLC purchased a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the first quarter valued at $5,753,000. Nisa Investment Advisors LLC bought a new position in shares of GraniteShares 2x Long NVDA Daily ETF in the second quarter worth about $7,518,000. TRUE Private Wealth Advisors increased its stake in GraniteShares 2x Long NVDA Daily ETF by 551.9% in the 1st quarter. TRUE Private Wealth Advisors now owns 71,642 shares of the company’s stock worth $2,973,000 after buying an additional 60,653 shares during the period. Finally, Brookstone Capital Management purchased a new position in GraniteShares 2x Long NVDA Daily ETF in the 2nd quarter worth about $1,502,000.

GraniteShares 2x Long NVDA Daily ETF Trading Down 2.0 %

NVDL stock traded down $1.08 during mid-day trading on Tuesday, reaching $53.24. 14,910,010 shares of the stock traded hands, compared to its average volume of 17,751,447. GraniteShares 2x Long NVDA Daily ETF has a one year low of $11.94 and a one year high of $91.70. The business has a 50-day moving average price of $58.25 and a two-hundred day moving average price of $52.97.

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.