Short Interest in GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Increases By 162.9%

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) was the target of a significant growth in short interest in the month of June. As of June 30th, there was short interest totaling 17,303,610 shares, a growth of 162.9% from the June 15th total of 6,581,372 shares. Based on an average trading volume of 13,682,979 shares, the days-to-cover ratio is presently 1.3 days. Approximately 13.1% of the company’s shares are sold short.

GraniteShares 2x Long NVDA Daily ETF Stock Up 0.6%

Shares of NASDAQ:NVDL traded up $0.20 during mid-day trading on Wednesday, hitting $33.37. The stock had a trading volume of 14,771,404 shares, compared to its average volume of 26,341,178. The company’s 50 day moving average is $33.53 and its 200-day moving average is $30.20. GraniteShares 2x Long NVDA Daily ETF has a 12-month low of $21.54 and a 12-month high of $43.27.

Institutional Trading of GraniteShares 2x Long NVDA Daily ETF

Hedge funds have recently modified their holdings of the business. Financial Life Planners purchased a new position in shares of GraniteShares 2x Long NVDA Daily ETF during the first quarter valued at $25,000. Parallel Advisors LLC raised its position in GraniteShares 2x Long NVDA Daily ETF by 104.3% during the fourth quarter. Parallel Advisors LLC now owns 613 shares of the company’s stock valued at $54,000 after buying an additional 313 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in GraniteShares 2x Long NVDA Daily ETF in the 3rd quarter worth about $88,000. CoreCap Advisors LLC boosted its position in GraniteShares 2x Long NVDA Daily ETF by 200.0% during the 2nd quarter. CoreCap Advisors LLC now owns 3,462 shares of the company’s stock worth $103,000 after acquiring an additional 2,308 shares during the period. Finally, Headlands Technologies LLC boosted its position in GraniteShares 2x Long NVDA Daily ETF by 953.1% during the 2nd quarter. Headlands Technologies LLC now owns 1,685 shares of the company’s stock worth $119,000 after acquiring an additional 1,525 shares during the period.

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.