Short Interest in GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Rises By 15.6%

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) was the target of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 18,370,000 shares, a growth of 15.6% from the August 15th total of 15,890,000 shares. Based on an average daily volume of 24,529,300 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Trading of GraniteShares 2x Long NVDA Daily ETF

A number of hedge funds have recently modified their holdings of NVDL. Clarity Capital Partners LLC bought a new position in GraniteShares 2x Long NVDA Daily ETF during the fourth quarter worth about $1,648,000. NBC Securities Inc. acquired a new position in shares of GraniteShares 2x Long NVDA Daily ETF in the 1st quarter worth approximately $59,000. Banque Cantonale Vaudoise acquired a new position in GraniteShares 2x Long NVDA Daily ETF in the first quarter valued at approximately $201,000. Capital CS Group LLC lifted its holdings in shares of GraniteShares 2x Long NVDA Daily ETF by 519.0% in the 1st quarter. Capital CS Group LLC now owns 16,489 shares of the company’s stock worth $684,000 after purchasing an additional 13,825 shares in the last quarter. Finally, IMC Chicago LLC purchased a new stake in GraniteShares 2x Long NVDA Daily ETF in the 1st quarter valued at $5,753,000.

GraniteShares 2x Long NVDA Daily ETF Stock Performance

NVDL stock traded down $1.08 during mid-day trading on Tuesday, hitting $53.24. The stock had a trading volume of 14,910,010 shares, compared to its average volume of 17,751,447. The company has a fifty day moving average of $58.25 and a 200 day moving average of $52.97. GraniteShares 2x Long NVDA Daily ETF has a 1-year low of $11.94 and a 1-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.