GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD) Sees Significant Drop in Short Interest

GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD) saw a large drop in short interest in June. As of June 30th, there was short interest totaling 1,708,736 shares, a drop of 56.5% from the June 15th total of 3,931,924 shares. Based on an average daily trading volume, of 64,235,591 shares, the short-interest ratio is currently 0.0 days. Approximately 14.6% of the company’s stock are sold short.

Institutional Trading of GraniteShares 2x Short NVDA Daily ETF

A number of institutional investors and hedge funds have recently bought and sold shares of NVD. Wilmington Savings Fund Society FSB bought a new position in GraniteShares 2x Short NVDA Daily ETF in the 4th quarter valued at approximately $43,000. MWA Asset Management bought a new position in shares of GraniteShares 2x Short NVDA Daily ETF in the 1st quarter worth approximately $83,000. HRT Financial LP purchased a new stake in GraniteShares 2x Short NVDA Daily ETF during the fourth quarter valued at approximately $119,000. Hamilton Wealth LLC bought a new position in GraniteShares 2x Short NVDA Daily ETF in the third quarter worth approximately $164,000. Finally, Corient Private Wealth LLC bought a new position in GraniteShares 2x Short NVDA Daily ETF in the fourth quarter worth approximately $179,000.

GraniteShares 2x Short NVDA Daily ETF Stock Down 8.6%

Shares of NASDAQ NVD traded down $0.43 during trading on Tuesday, reaching $4.55. The company had a trading volume of 51,814,144 shares, compared to its average volume of 71,100,875. GraniteShares 2x Short NVDA Daily ETF has a 12-month low of $3.93 and a 12-month high of $11.50. The business’s 50-day moving average is $4.90 and its 200 day moving average is $6.22. The stock has a market cap of $45.82 million, a PE ratio of -37.92 and a beta of -3.06.

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.