GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD) Sees Large Increase in Short Interest

GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD) was the target of a significant increase in short interest during the month of May. As of May 31st, there was short interest totalling 870,800 shares, an increase of 27.6% from the May 15th total of 682,700 shares. Based on an average daily volume of 4,673,600 shares, the short-interest ratio is currently 0.2 days. Approximately 31.8% of the shares of the company are short sold.

GraniteShares 2x Short NVDA Daily ETF Stock Performance

NVD stock opened at $15.29 on Wednesday. The stock has a fifty day moving average of $22.24 and a 200-day moving average of $27.47. GraniteShares 2x Short NVDA Daily ETF has a fifty-two week low of $14.82 and a fifty-two week high of $84.50. The company has a market capitalization of $41.89 million, a price-to-earnings ratio of -127.42 and a beta of -4.30.

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NVD. SBI Securities Co. Ltd. bought a new stake in shares of GraniteShares 2x Short NVDA Daily ETF during the 4th quarter valued at $31,000. Simplex Trading LLC grew its holdings in GraniteShares 2x Short NVDA Daily ETF by 114.3% during the 1st quarter. Simplex Trading LLC now owns 4,758 shares of the company’s stock valued at $164,000 after buying an additional 2,538 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in GraniteShares 2x Short NVDA Daily ETF during the 4th quarter valued at about $300,000. Jump Financial LLC bought a new stake in shares of GraniteShares 2x Short NVDA Daily ETF during the first quarter valued at about $1,284,000. Finally, Jane Street Group LLC lifted its holdings in shares of GraniteShares 2x Short NVDA Daily ETF by 85.9% in the first quarter. Jane Street Group LLC now owns 58,700 shares of the company’s stock worth $2,032,000 after buying an additional 27,126 shares in the last quarter.

GraniteShares 2x Short NVDA Daily ETF Company Profile

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.