GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Sees Large Drop in Short Interest

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) was the recipient of a large decrease in short interest in August. As of August 14th, there was short interest totaling 13,572,206 shares, a decrease of 34.1% from the July 30th total of 20,606,034 shares. Currently, 12.2% of the company’s shares are sold short. Based on an average daily volume of 13,735,219 shares, the days-to-cover ratio is currently 1.0 days.

GraniteShares 2x Long NVDA Daily ETF Trading Down 3.0%

NVDL stock traded down $1.04 during midday trading on Tuesday, reaching $33.72. 11,119,126 shares of the company’s stock traded hands, compared to its average volume of 23,864,713. GraniteShares 2x Long NVDA Daily ETF has a fifty-two week low of $21.54 and a fifty-two week high of $43.27. The business has a 50-day moving average price of $31.87 and a two-hundred day moving average price of $31.14.

Institutional Investors Weigh In On GraniteShares 2x Long NVDA Daily ETF

Several institutional investors and hedge funds have recently modified their holdings of NVDL. Goldman Sachs Group Inc. acquired a new stake in GraniteShares 2x Long NVDA Daily ETF in the fourth quarter worth approximately $30,804,000. Corient Private Wealth LP acquired a new stake in shares of GraniteShares 2x Long NVDA Daily ETF in the second quarter worth $2,777,000. Renaissance Technologies LLC acquired a new stake in shares of GraniteShares 2x Long NVDA Daily ETF in the first quarter worth $5,907,000. Corient Private Wealth LLC acquired a new stake in GraniteShares 2x Long NVDA Daily ETF during the 2nd quarter worth about $1,831,000. Finally, Harvest Fund Management Co. Ltd boosted its position in GraniteShares 2x Long NVDA Daily ETF by 105.0% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 41,152 shares of the company’s stock worth $3,622,000 after acquiring an additional 21,073 shares during the period.

About GraniteShares 2x Long NVDA Daily ETF

The GraniteShares 1.5x Long NVDA Daily ETF (NVDL) is an exchange-traded fund that mostly invests in information technology equity. The fund provides 1.5x leveraged exposure, less fees and expenses, to the daily price movement for shares of NVIDIA Corporation stock. NVDL was launched on Dec 13, 2022 and is managed by GraniteShares.