GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD) Short Interest Up 97.8% in May

GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD) was the target of a significant increase in short interest in May. As of May 15th, there was short interest totaling 4,981,217 shares, an increase of 97.8% from the April 30th total of 2,518,649 shares. Approximately 26.0% of the shares of the stock are short sold. Based on an average daily volume of 80,333,712 shares, the days-to-cover ratio is presently 0.1 days.

GraniteShares 2x Short NVDA Daily ETF Trading Up 6.7%

NASDAQ NVD traded up $0.29 during trading on Wednesday, hitting $4.64. 36,037,235 shares of the company’s stock were exchanged, compared to its average volume of 73,139,273. The company has a market cap of $88.95 million, a PE ratio of -38.67 and a beta of -3.08. GraniteShares 2x Short NVDA Daily ETF has a fifty-two week low of $3.93 and a fifty-two week high of $16.47. The stock’s 50 day moving average price is $5.81 and its two-hundred day moving average price is $6.97.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NVD. Jump Financial LLC raised its stake in GraniteShares 2x Short NVDA Daily ETF by 1,202.4% during the fourth quarter. Jump Financial LLC now owns 390,688 shares of the company’s stock worth $2,793,000 after acquiring an additional 360,690 shares in the last quarter. IMC Chicago LLC acquired a new position in shares of GraniteShares 2x Short NVDA Daily ETF in the first quarter valued at approximately $2,222,000. Optiver Holding B.V. increased its stake in shares of GraniteShares 2x Short NVDA Daily ETF by 1,209.1% in the first quarter. Optiver Holding B.V. now owns 175,687 shares of the company’s stock valued at $1,326,000 after buying an additional 162,267 shares during the period. Genesis Financial Group LLC acquired a new position in shares of GraniteShares 2x Short NVDA Daily ETF in the fourth quarter valued at approximately $491,000. Finally, StoneX Group Inc. acquired a new position in shares of GraniteShares 2x Short NVDA Daily ETF in the fourth quarter valued at approximately $287,000.

GraniteShares 2x Short NVDA Daily ETF Company Profile

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.