GraniteShares 2x Long RIVN Daily ETF (NASDAQ:RVNL) Short Interest Down 51.4% in May

GraniteShares 2x Long RIVN Daily ETF (NASDAQ:RVNL) was the recipient of a significant decrease in short interest during the month of May. As of May 15th, there was short interest totaling 5,385 shares, a decrease of 51.4% from the April 30th total of 11,089 shares. Based on an average daily volume of 79,676 shares, the short-interest ratio is presently 0.1 days. Currently, 1.9% of the company’s stock are sold short.

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

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Jane Street Group LLC bought a new position in GraniteShares 2x Long RIVN Daily ETF during the fourth quarter worth about $231,000. Optiver Holding B.V. boosted its stake in shares of GraniteShares 2x Long RIVN Daily ETF by 3.5% in the third quarter. Optiver Holding B.V. now owns 7,503 shares of the company’s stock valued at $281,000 after buying an additional 252 shares during the period. Finally, Austin Wealth Management LLC bought a new stake in shares of GraniteShares 2x Long RIVN Daily ETF in the third quarter valued at approximately $423,000.

GraniteShares 2x Long RIVN Daily ETF Price Performance

Shares of NASDAQ:RVNL traded up $2.31 during midday trading on Tuesday, hitting $33.69. The stock had a trading volume of 71,761 shares, compared to its average volume of 52,252. The business’s 50-day simple moving average is $28.98 and its 200-day simple moving average is $37.06. GraniteShares 2x Long RIVN Daily ETF has a 12 month low of $19.25 and a 12 month high of $75.17.

About GraniteShares 2x Long RIVN Daily ETF

GraniteShares ETF Trust – GraniteShares 2x Long RIVN Daily ETF is an exchange traded fund launched by GraniteShares Inc The fund is managed by GraniteShares Advisors LLC. It invests in public equity markets. The fund invests through derivatives in stocks of companies operating across automotive industry, designing, developing and manufacturing electric vehicles and accessories sectors. It uses derivatives such as swaps to create its portfolio. It invests in growth and value stocks of companies across diversified market capitalization.