GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD) Shares Gap Down – Here’s Why

GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $33.75, but opened at $32.70. GraniteShares 2x Short NVDA Daily ETF shares last traded at $32.41, with a volume of 188,315 shares changing hands.

GraniteShares 2x Short NVDA Daily ETF Stock Performance

The business’s 50 day simple moving average is $1.68 and its 200-day simple moving average is $2.55. The company has a market cap of $2.41 billion, a price-to-earnings ratio of -11.25 and a beta of -4.30.

Institutional Investors Weigh In On GraniteShares 2x Short NVDA Daily ETF

Several institutional investors and hedge funds have recently modified their holdings of the business. Scientech Research LLC acquired a new stake in shares of GraniteShares 2x Short NVDA Daily ETF in the 2nd quarter valued at $178,000. Ground Swell Capital LLC lifted its stake in shares of GraniteShares 2x Short NVDA Daily ETF by 117.5% in the 2nd quarter. Ground Swell Capital LLC now owns 21,929 shares of the company’s stock valued at $48,000 after purchasing an additional 11,847 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of GraniteShares 2x Short NVDA Daily ETF in the 2nd quarter valued at $33,000. Finally, Midland Wealth Advisors LLC acquired a new stake in shares of GraniteShares 2x Short NVDA Daily ETF in the 2nd quarter valued at $44,000.

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.