Short Interest in GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Drops By 19.7%

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) was the recipient of a large drop in short interest during the month of December. As of December 15th, there was short interest totalling 7,440,000 shares, a drop of 19.7% from the November 30th total of 9,260,000 shares. Based on an average daily volume of 17,973,100 shares, the short-interest ratio is currently 0.4 days.

Hedge Funds Weigh In On GraniteShares 2x Long NVDA Daily ETF

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Weaver Consulting Group grew its stake in shares of 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 worth $260,000 after purchasing an additional 200 shares in the last quarter. SeaCrest Wealth Management LLC boosted its holdings in GraniteShares 2x Long NVDA Daily ETF by 3.6% in the third quarter. SeaCrest Wealth Management LLC now owns 6,339 shares of the company’s stock valued at $369,000 after purchasing an additional 221 shares in the last quarter. Private Ocean LLC purchased a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the 2nd quarter worth approximately $35,000. National Bank of Canada FI acquired a new position in shares of GraniteShares 2x Long NVDA Daily ETF in the 2nd quarter valued at $42,000. Finally, AlphaMark Advisors LLC grew its holdings in shares of GraniteShares 2x Long NVDA Daily ETF by 11.4% during the third quarter. AlphaMark Advisors LLC now owns 6,774 shares of the company’s stock worth $394,000 after purchasing an additional 694 shares during the last quarter.

GraniteShares 2x Long NVDA Daily ETF Price Performance

NVDL traded down $2.92 during trading hours on Friday, hitting $69.37. 13,190,257 shares of the company’s stock were exchanged, compared to its average volume of 17,750,324. GraniteShares 2x Long NVDA Daily ETF has a 12-month low of $13.94 and a 12-month high of $91.70. The firm has a 50 day moving average of $74.18 and a 200 day moving average of $66.87.

About GraniteShares 2x Long NVDA Daily ETF

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.