Short Interest in GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD) Drops By 25.2%

GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD) saw a large decline in short interest during the month of March. As of March 31st, there was short interest totaling 1,302,829 shares, a decline of 25.2% from the March 15th total of 1,742,570 shares. Based on an average daily volume of 96,224,042 shares, the days-to-cover ratio is presently 0.0 days. Currently, 10.2% of the company’s stock are sold short.

GraniteShares 2x Short NVDA Daily ETF Trading Down 3.3%

NVD stock traded down $0.19 during midday trading on Friday, hitting $5.62. 33,626,808 shares of the company’s stock were exchanged, compared to its average volume of 73,546,633. GraniteShares 2x Short NVDA Daily ETF has a 12-month low of $5.61 and a 12-month high of $36.90. The firm has a 50 day moving average price of $7.00 and a 200-day moving average price of $7.67. The stock has a market capitalization of $73.85 million, a price-to-earnings ratio of -46.83 and a beta of -3.37.

Institutional Investors Weigh In On GraniteShares 2x Short NVDA Daily ETF

Hedge funds and other institutional investors have recently bought and sold shares of the business. SBI Securities Co. Ltd. increased its holdings in GraniteShares 2x Short NVDA Daily ETF by 261.1% during the 3rd quarter. SBI Securities Co. Ltd. now owns 5,186 shares of the company’s stock worth $45,000 after purchasing an additional 3,750 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of GraniteShares 2x Short NVDA Daily ETF in the 4th quarter valued at approximately $43,000. MWA Asset Management bought a new stake in shares of GraniteShares 2x Short NVDA Daily ETF in the 3rd quarter valued at approximately $87,000. StoneX Group Inc. increased its holdings in shares of GraniteShares 2x Short NVDA Daily ETF by 83.0% in the 2nd quarter. StoneX Group Inc. now owns 15,879 shares of the company’s stock valued at $201,000 after acquiring an additional 7,200 shares during the last quarter. Finally, HRT Financial LP bought a new stake in shares of GraniteShares 2x Short NVDA Daily ETF in the 4th quarter valued at approximately $119,000.

About GraniteShares 2x Short NVDA Daily ETF

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.