Short Interest in GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Rises By 41.1%

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) saw a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 17,280,000 shares, an increase of 41.1% from the January 15th total of 12,250,000 shares. Based on an average daily trading volume, of 20,609,300 shares, the days-to-cover ratio is presently 0.8 days.

GraniteShares 2x Long NVDA Daily ETF Stock Performance

NASDAQ:NVDL traded up $3.15 during trading hours on Friday, reaching $64.66. The company’s stock had a trading volume of 26,224,221 shares, compared to its average volume of 25,805,186. The stock has a 50 day moving average price of $65.24 and a two-hundred day moving average price of $65.24. GraniteShares 2x Long NVDA Daily ETF has a 12 month low of $23.66 and a 12 month high of $91.70.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Weaver Consulting Group boosted its position in GraniteShares 2x Long NVDA Daily ETF by 4.7% during the third quarter. Weaver Consulting Group now owns 4,472 shares of the company’s stock valued at $260,000 after purchasing an additional 200 shares in the last quarter. SeaCrest Wealth Management LLC raised its stake in shares of GraniteShares 2x Long NVDA Daily ETF by 3.6% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 6,339 shares of the company’s stock worth $369,000 after acquiring an additional 221 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in GraniteShares 2x Long NVDA Daily ETF by 26.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,088 shares of the company’s stock valued at $72,000 after acquiring an additional 229 shares during the last quarter. Brookstone Capital Management lifted its position in GraniteShares 2x Long NVDA Daily ETF by 1.0% during the fourth quarter. Brookstone Capital Management now owns 38,231 shares of the company’s stock valued at $2,538,000 after acquiring an additional 373 shares during the last quarter. Finally, IFP Advisors Inc acquired a new stake in GraniteShares 2x Long NVDA Daily ETF in the fourth quarter valued at approximately $27,000.

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.