GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD) Stock Sees Unusually High Call Option Buying

GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD) saw some unusual options trading activity on Thursday. Investors acquired 2,964 call options on the stock. This represents an increase of 214% compared to the typical volume of 945 call options.

GraniteShares 2x Short NVDA Daily ETF Price Performance

NASDAQ NVD traded up $0.56 on Thursday, hitting $6.43. The stock had a trading volume of 61,173,093 shares, compared to its average volume of 78,981,055. The business’s fifty day moving average price is $4.04 and its 200 day moving average price is $5.24. GraniteShares 2x Short NVDA Daily ETF has a 52-week low of $3.19 and a 52-week high of $9.76. The stock has a market cap of $87.07 million, a price-to-earnings ratio of -53.97 and a beta of -3.18.

Institutional Trading of GraniteShares 2x Short NVDA Daily ETF

Hedge funds and other institutional investors have recently made changes to their positions in the business. StoneX Group Inc. purchased a new position in GraniteShares 2x Short NVDA Daily ETF during the 3rd quarter worth $236,000. LexAurum Advisors LLC increased its position in GraniteShares 2x Short NVDA Daily ETF by 9.5% during the 3rd quarter. LexAurum Advisors LLC now owns 57,515 shares of the company’s stock valued at $209,000 after buying an additional 5,000 shares in the last quarter. Optiver Holding B.V. raised its stake in 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 last quarter. Genesis Financial Group LLC raised its stake in GraniteShares 2x Short NVDA Daily ETF by 67.3% in the first quarter. Genesis Financial Group LLC now owns 114,888 shares of the company’s stock valued at $867,000 after buying an additional 46,225 shares during the last quarter. Finally, MWA Asset Management purchased a new stake in GraniteShares 2x Short NVDA Daily ETF in the first quarter valued at about $83,000.

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.