GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Short Interest Down 43.0% in February

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) was the target of a large 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 trading volume, of 21,260,900 shares, the days-to-cover ratio is currently 0.5 days.

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

A number of hedge funds have recently modified their holdings of the business. Josh Arnold Investment Consultant LLC increased its position in shares of GraniteShares 2x Long NVDA Daily ETF by 88.2% during the fourth quarter. Josh Arnold Investment Consultant LLC now owns 26,725 shares of the company’s stock worth $1,774,000 after acquiring an additional 12,525 shares in the last quarter. Snowden Capital Advisors LLC bought a new position in GraniteShares 2x Long NVDA Daily ETF during the 4th quarter worth about $256,000. CoreCap Advisors LLC lifted its holdings in shares of GraniteShares 2x Long NVDA Daily ETF by 530.0% in the fourth quarter. CoreCap Advisors LLC now owns 1,575 shares of the company’s stock valued at $105,000 after purchasing an additional 1,325 shares in the last quarter. Cresset Asset Management LLC boosted its position in shares of GraniteShares 2x Long NVDA Daily ETF by 20.7% during the fourth quarter. Cresset Asset Management LLC now owns 7,000 shares of the company’s stock worth $465,000 after buying an additional 1,200 shares during the period. Finally, Mercer Global Advisors Inc. ADV raised its position in GraniteShares 2x Long NVDA Daily ETF by 1,006.7% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 128,102 shares of the company’s stock valued at $8,505,000 after buying an additional 116,527 shares during the last quarter.

GraniteShares 2x Long NVDA Daily ETF Price Performance

NASDAQ:NVDL traded down $1.67 on Tuesday, reaching $40.87. The stock had a trading volume of 16,588,867 shares, compared to its average volume of 25,602,701. The stock has a fifty day moving average price of $63.00 and a 200-day moving average price of $65.79. GraniteShares 2x Long NVDA Daily ETF has a 1-year low of $28.29 and a 1-year high of $91.70.

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.