GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD) Shares Gap Down – Here’s Why

GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $4.15, but opened at $3.98. GraniteShares 2x Short NVDA Daily ETF shares last traded at $3.9650, with a volume of 7,142,668 shares trading hands.

GraniteShares 2x Short NVDA Daily ETF Price Performance

The stock has a market capitalization of $552.39 billion, a price-to-earnings ratio of -32.88 and a beta of -3.08. The firm has a fifty day moving average of $4.36 and a 200 day moving average of $5.30.

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

Institutional investors and hedge funds have recently made changes to their positions in the stock. IMC Chicago LLC purchased a new stake in GraniteShares 2x Short NVDA Daily ETF in the first quarter valued at $2,222,000. Optiver Holding B.V. increased its position in 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. Genesis Financial Group LLC raised its position in shares of 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. Group One Trading LLC purchased a new stake in GraniteShares 2x Short NVDA Daily ETF in the first quarter valued at approximately $262,000. Finally, MWA Asset Management acquired a new stake in GraniteShares 2x Short NVDA Daily ETF during the first quarter worth about $83,000.

GraniteShares 2x Short NVDA Daily ETF Company Profile

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.