GraniteShares 2x Long RIVN Daily ETF (NASDAQ:RVNL) Sees Large Increase in Short Interest

GraniteShares 2x Long RIVN Daily ETF (NASDAQ:RVNL) was the recipient of a large growth in short interest in the month of September. As of September 15th, there was short interest totaling 19,243 shares, a growth of 154.6% from the August 31st total of 7,558 shares. Based on an average daily volume of 67,391 shares, the short-interest ratio is currently 0.3 days. Approximately 3.8% of the company’s shares are short sold.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in GraniteShares 2x Long RIVN Daily ETF stock. Optiver Holding B.V. increased its holdings in GraniteShares 2x Long RIVN Daily ETF (NASDAQ:RVNL) by 82.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,558 shares of the company’s stock after acquiring an additional 7,030 shares during the period. Optiver Holding B.V. owned about 5.56% of GraniteShares 2x Long RIVN Daily ETF worth $444,000 at the end of the most recent reporting period.

GraniteShares 2x Long RIVN Daily ETF Price Performance

NASDAQ:RVNL traded down $1.88 during trading hours on Monday, hitting $20.70. 67,927 shares of the stock traded hands, compared to its average volume of 70,612. The firm has a 50 day moving average price of $24.84 and a 200 day moving average price of $28.22. GraniteShares 2x Long RIVN Daily ETF has a fifty-two week low of $19.25 and a fifty-two week high of $75.17.

About GraniteShares 2x Long RIVN Daily ETF

GraniteShares ETF Trust – GraniteShares 2x Long RIVN Daily ETF is an exchange traded fund launched by GraniteShares Inc The fund is managed by GraniteShares Advisors LLC. It invests in public equity markets. The fund invests through derivatives in stocks of companies operating across automotive industry, designing, developing and manufacturing electric vehicles and accessories sectors. It uses derivatives such as swaps to create its portfolio. It invests in growth and value stocks of companies across diversified market capitalization.