GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD) Short Interest Up 87.7% in August

GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD) saw a large increase in short interest in August. As of August 14th, there was short interest totaling 5,962,961 shares, an increase of 87.7% from the July 30th total of 3,176,936 shares. Based on an average daily trading volume, of 61,894,576 shares, the days-to-cover ratio is currently 0.1 days. Currently, 54.4% of the shares of the stock are sold short.

GraniteShares 2x Short NVDA Daily ETF Trading Down 2.0%

GraniteShares 2x Short NVDA Daily ETF stock traded down $0.08 during mid-day trading on Monday, hitting $3.97. The stock had a trading volume of 89,295,582 shares, compared to its average volume of 72,839,500. The firm has a market capitalization of $43.55 million, a P/E ratio of -33.08 and a beta of -3.06. The firm’s 50 day moving average is $4.73 and its 200 day moving average is $5.56. GraniteShares 2x Short NVDA Daily ETF has a one year low of $3.61 and a one year high of $11.41.

Hedge Funds Weigh In On GraniteShares 2x Short NVDA Daily ETF

Large investors have recently made changes to their positions in the business. Optiver Holding B.V. boosted 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 worth $1,326,000 after acquiring an additional 162,267 shares during the period. Genesis Financial Group LLC raised its stake in GraniteShares 2x Short NVDA Daily ETF by 67.3% during the 1st quarter. Genesis Financial Group LLC now owns 114,888 shares of the company’s stock valued at $867,000 after purchasing an additional 46,225 shares during the period. MWA Asset Management purchased a new position in GraniteShares 2x Short NVDA Daily ETF in the 1st quarter worth approximately $83,000. Group One Trading LLC purchased a new position in GraniteShares 2x Short NVDA Daily ETF in the 1st quarter worth approximately $262,000. Finally, IMC Chicago LLC purchased a new position in GraniteShares 2x Short NVDA Daily ETF in the 1st quarter worth approximately $2,222,000.

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.