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

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) was the target of a significant growth in short interest during the month of December. As of December 15th, there was short interest totaling 14,338,140 shares, a growth of 32.9% from the November 30th total of 10,790,379 shares. Based on an average daily volume of 11,517,875 shares, the days-to-cover ratio is presently 1.2 days. Currently, 29.9% of the shares of the company are short sold. Currently, 29.9% of the shares of the company are short sold. Based on an average daily volume of 11,517,875 shares, the days-to-cover ratio is presently 1.2 days.

GraniteShares 2x Long NVDA Daily ETF Stock Performance

NASDAQ:NVDL traded down $0.72 during midday trading on Tuesday, reaching $89.04. The stock had a trading volume of 5,846,357 shares, compared to its average volume of 17,976,125. The firm has a fifty day simple moving average of $90.04 and a two-hundred day simple moving average of $85.16. GraniteShares 2x Long NVDA Daily ETF has a 12-month low of $23.12 and a 12-month high of $118.50.

Institutional Trading of GraniteShares 2x Long NVDA Daily ETF

Several hedge funds have recently modified their holdings of the business. Chung Wu Investment Group LLC boosted its stake in shares of GraniteShares 2x Long NVDA Daily ETF by 350.0% in the third quarter. Chung Wu Investment Group LLC now owns 900 shares of the company’s stock valued at $84,000 after buying an additional 700 shares in the last quarter. Osaic Holdings Inc. lifted its holdings in GraniteShares 2x Long NVDA Daily ETF by 49.7% in the second quarter. Osaic Holdings Inc. now owns 2,375 shares of the company’s stock valued at $167,000 after acquiring an additional 788 shares during the period. Hoey Investments Inc. boosted its position in shares of GraniteShares 2x Long NVDA Daily ETF by 2.5% during the 2nd quarter. Hoey Investments Inc. now owns 36,656 shares of the company’s stock worth $2,581,000 after purchasing an additional 905 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of GraniteShares 2x Long NVDA Daily ETF during the 3rd quarter worth $88,000. Finally, CWM LLC acquired a new position in shares of GraniteShares 2x Long NVDA Daily ETF during the 3rd quarter worth $94,000.

GraniteShares 2x Long NVDA Daily ETF Company Profile

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.