GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD) Stock Cross Above Two Hundred Day Moving Average – What’s Next?

GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD) shares passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $5.28 and traded as high as $5.48. GraniteShares 2x Short NVDA Daily ETF shares last traded at $5.47, with a volume of 127,142,573 shares changing hands.

GraniteShares 2x Short NVDA Daily ETF Stock Performance

The company has a market cap of $79.70 million, a price-to-earnings ratio of -45.58 and a beta of -3.18. The business’s 50 day simple moving average is $3.90 and its 200-day simple moving average is $5.28.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Optiver Holding B.V. lifted its stake in shares of GraniteShares 2x Short NVDA Daily ETF by 1,209.1% in the 1st quarter. Optiver Holding B.V. now owns 175,687 shares of the company’s stock valued at $1,326,000 after purchasing an additional 162,267 shares during the last quarter. IMC Chicago LLC bought a new stake in GraniteShares 2x Short NVDA Daily ETF during the first quarter worth approximately $2,222,000. StoneX Group Inc. acquired a new position in GraniteShares 2x Short NVDA Daily ETF during the third quarter valued at approximately $236,000. LexAurum Advisors LLC grew its holdings in GraniteShares 2x Short NVDA Daily ETF by 9.5% during the third quarter. LexAurum Advisors LLC now owns 57,515 shares of the company’s stock valued at $209,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Genesis Financial Group LLC grew its holdings in GraniteShares 2x Short NVDA Daily ETF by 67.3% during the first quarter. Genesis Financial Group LLC now owns 114,888 shares of the company’s stock valued at $867,000 after purchasing an additional 46,225 shares during 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.