GraniteShares 2x Long RIVN Daily ETF (NASDAQ:RVNL) Shares Up 20.9% – Here’s Why

GraniteShares 2x Long RIVN Daily ETF (NASDAQ:RVNL)’s share price shot up 20.9% during mid-day trading on Friday . The company traded as high as $75.05 and last traded at $73.74. 187,462 shares traded hands during trading, an increase of 309% from the average session volume of 45,862 shares. The stock had previously closed at $60.97.

GraniteShares 2x Long RIVN Daily ETF Price Performance

The company’s 50 day simple moving average is $39.28 and its 200 day simple moving average is $35.44.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in GraniteShares 2x Long RIVN Daily ETF stock. Austin Wealth Management LLC purchased a new stake in GraniteShares 2x Long RIVN Daily ETF (NASDAQ:RVNL) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 11,271 shares of the company’s stock, valued at approximately $423,000. Austin Wealth Management LLC owned approximately 4.70% of GraniteShares 2x Long RIVN Daily ETF at the end of the most recent reporting period.

GraniteShares 2x Long RIVN Daily ETF Company Profile

GraniteShares ETF Trust – GraniteShares 2x Long RIVN Daily ETF is an exchange traded fund launched by GraniteShares Inc The fund is managed by GraniteShares Advisors LLC. It invests in public equity markets. The fund invests through derivatives in stocks of companies operating across automotive industry, designing, developing and manufacturing electric vehicles and accessories sectors. It uses derivatives such as swaps to create its portfolio. It invests in growth and value stocks of companies across diversified market capitalization.