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

Posted by Scott Moore on Nov 4th, 2024

GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD – Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $33.75, but opened at $32.70. GraniteShares 2x Short NVDA Daily ETF shares last traded at $32.41, with a volume of 188,315 shares traded.

GraniteShares 2x Short NVDA Daily ETF Price Performance

The stock’s fifty day simple moving average is $1.68 and its 200-day simple moving average is $2.55. The stock has a market cap of $2.41 billion, a P/E ratio of -11.25 and a beta of -4.30.

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

Several large investors have recently made changes to their positions in the company. Scientech Research LLC acquired a new position in shares of GraniteShares 2x Short NVDA Daily ETF during the second quarter valued at approximately $178,000. Ground Swell Capital LLC increased its stake in shares of GraniteShares 2x Short NVDA Daily ETF by 117.5% during the second quarter. Ground Swell Capital LLC now owns 21,929 shares of the company’s stock valued at $48,000 after acquiring an additional 11,847 shares during the period. Headlands Technologies LLC acquired a new position in shares of GraniteShares 2x Short NVDA Daily ETF during the second quarter valued at approximately $33,000. Finally, Midland Wealth Advisors LLC acquired a new position in shares of GraniteShares 2x Short NVDA Daily ETF during the second quarter valued at approximately $44,000.

About GraniteShares 2x Short NVDA Daily ETF

(Get Free Report)

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.