GraniteShares 2x Long RIVN Daily ETF (NASDAQ:RVNL) Sees Significant Increase in Short Interest

GraniteShares 2x Long RIVN Daily ETF (NASDAQ:RVNL) saw a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 65,141 shares, a growth of 202.5% from the September 30th total of 21,537 shares. Based on an average daily trading volume, of 126,564 shares, the days-to-cover ratio is presently 0.5 days. Currently, 7.4% of the company’s shares are short sold.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in GraniteShares 2x Long RIVN Daily ETF stock. Optiver Holding B.V. lifted its position in GraniteShares 2x Long RIVN Daily ETF (NASDAQ:RVNL) by 82.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,558 shares of the company’s stock after acquiring an additional 7,030 shares during the period. Optiver Holding B.V. owned 5.56% of GraniteShares 2x Long RIVN Daily ETF worth $444,000 as of its most recent SEC filing.

GraniteShares 2x Long RIVN Daily ETF Trading Up 7.5%

NASDAQ:RVNL opened at $13.07 on Friday. The company has a fifty day moving average of $20.49 and a 200-day moving average of $27.92. GraniteShares 2x Long RIVN Daily ETF has a twelve month low of $11.96 and a twelve month high of $75.17.

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.