GraniteShares 2x Long LCID Daily ETF (NASDAQ:LCDL) Trading Down 16.3% – Here’s Why

GraniteShares 2x Long LCID Daily ETF (NASDAQ:LCDL) shares fell 16.3% on Wednesday . The stock traded as low as $0.4731 and last traded at $0.4765. 952,439 shares were traded during mid-day trading, an increase of 65% from the average session volume of 578,507 shares. The stock had previously closed at $0.5691.

GraniteShares 2x Long LCID Daily ETF Stock Up 1.8%

The firm’s 50 day simple moving average is $1.08 and its two-hundred day simple moving average is $2.59.

Institutional Investors Weigh In On GraniteShares 2x Long LCID Daily ETF

An institutional investor recently raised its position in GraniteShares 2x Long LCID Daily ETF stock. Optiver Holding B.V. raised its stake in GraniteShares 2x Long LCID Daily ETF (NASDAQ:LCDL) by 506.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 83,968 shares of the company’s stock after purchasing an additional 70,131 shares during the period. Optiver Holding B.V. owned 1.22% of GraniteShares 2x Long LCID Daily ETF worth $188,000 as of its most recent SEC filing.

GraniteShares 2x Long LCID Daily ETF Company Profile

GraniteShares ETF Trust – GraniteShares 2x Long LCID 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, manufacturing, and selling electric vehicles, ev powertrains and battery systems using its own equipment and factories sectors. It uses derivatives such as swaps to create its portfolio.