GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL – Get Free Report) saw a large decline in short interest in the month of February. As of February 15th, there was short interest totalling 9,850,000 shares, a decline of 43.0% from the January 31st total of 17,280,000 shares. Based on an average daily volume of 21,260,900 shares, the days-to-cover ratio is presently 0.5 days.
Hedge Funds Weigh In On GraniteShares 2x Long NVDA Daily ETF
A number of institutional investors and hedge funds have recently added to or reduced their stakes in NVDL. JPMorgan Chase & Co. lifted its position in shares of GraniteShares 2x Long NVDA Daily ETF by 8.0% during the third quarter. JPMorgan Chase & Co. now owns 78,492 shares of the company’s stock worth $4,567,000 after purchasing an additional 5,839 shares in the last quarter. Strategic Blueprint LLC acquired a new position in shares of GraniteShares 2x Long NVDA Daily ETF during the third quarter worth approximately $351,000. Hollencrest Capital Management lifted its position in shares of GraniteShares 2x Long NVDA Daily ETF by 453.4% during the third quarter. Hollencrest Capital Management now owns 5,755 shares of the company’s stock worth $335,000 after purchasing an additional 4,715 shares in the last quarter. HighTower Advisors LLC acquired a new position in shares of GraniteShares 2x Long NVDA Daily ETF during the third quarter worth approximately $210,000. Finally, Flow Traders U.S. LLC lifted its position in shares of GraniteShares 2x Long NVDA Daily ETF by 225.4% during the third quarter. Flow Traders U.S. LLC now owns 16,930 shares of the company’s stock worth $985,000 after purchasing an additional 11,727 shares in the last quarter.
GraniteShares 2x Long NVDA Daily ETF Stock Performance
Shares of NASDAQ:NVDL traded down $8.90 on Monday, hitting $42.54. 42,301,399 shares of the company were exchanged, compared to its average volume of 25,910,932. The company’s 50 day moving average price is $63.00 and its two-hundred day moving average price is $65.79. GraniteShares 2x Long NVDA Daily ETF has a one year low of $28.29 and a one year high of $91.70.
GraniteShares 2x Long NVDA Daily ETF Company Profile
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.
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