GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD) Trading 6% Higher – Here’s Why

GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD) shares traded up 6% during trading on Monday . The company traded as high as $4.60 and last traded at $4.57. Approximately 64,313,227 shares changed hands during trading, a decline of 10% from the average session volume of 71,516,109 shares. The stock had previously closed at $4.31.

GraniteShares 2x Short NVDA Daily ETF Stock Up 2.8%

The company has a market capitalization of $49.15 million, a price-to-earnings ratio of -37.33 and a beta of -3.06. The business has a fifty day simple moving average of $4.77 and a two-hundred day simple moving average of $5.63.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of NVD. Optiver Holding B.V. increased its position in shares of GraniteShares 2x Short NVDA Daily ETF by 1,209.1% during the 1st quarter. Optiver Holding B.V. now owns 175,687 shares of the company’s stock worth $1,326,000 after purchasing an additional 162,267 shares in the last quarter. IMC Chicago LLC bought a new position in GraniteShares 2x Short NVDA Daily ETF during the 1st quarter valued at about $2,222,000. Corient Private Wealth LLC acquired a new position in GraniteShares 2x Short NVDA Daily ETF in the fourth quarter valued at about $179,000. HRT Financial LP acquired a new position in GraniteShares 2x Short NVDA Daily ETF in the fourth quarter valued at about $119,000. Finally, StoneX Group Inc. bought a new stake in GraniteShares 2x Short NVDA Daily ETF during the fourth quarter worth about $287,000.

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.