Tradr 1.5X Short NVDA Daily ETF (NASDAQ:NVDS) Trading 1.6% Higher – Still a Buy?

Tradr 1.5X Short NVDA Daily ETF (NASDAQ:NVDS) shares shot up 1.6% during mid-day trading on Friday . The company traded as high as $19.94 and last traded at $19.91. Approximately 139,740 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 380,812 shares. The stock had previously closed at $19.60.

Tradr 1.5X Short NVDA Daily ETF Stock Up 1.6%

The company has a market capitalization of $14.34 million, a PE ratio of 31.94 and a beta of -2.42. The firm’s 50 day simple moving average is $21.43 and its 200 day simple moving average is $23.97.

Institutional Trading of Tradr 1.5X Short NVDA Daily ETF

A hedge fund recently bought a new stake in Tradr 1.5X Short NVDA Daily ETF stock. JPMorgan Chase & Co. bought a new stake in shares of Tradr 1.5X Short NVDA Daily ETF (NASDAQ:NVDS) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 10,200 shares of the company’s stock, valued at approximately $147,000. JPMorgan Chase & Co. owned 0.23% of Tradr 1.5X Short NVDA Daily ETF at the end of the most recent quarter.

About Tradr 1.5X Short NVDA Daily ETF

The AXS 1.25X NVDA Bear Daily ETF (NVDS) is an exchange-traded fund that is based on the NVIDIA Corporation index. The fund provides inverse (-1.25x) exposure, less fees and expenses, to the daily price movement for shares of Nvidia stock. NVDS was launched on Jul 14, 2022 and is managed by AXS Investments.