GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD) Sees Significant Growth in Short Interest

GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD) was the recipient of a significant growth in short interest during the month of August. As of August 14th, there was short interest totaling 5,962,961 shares, a growth of 87.7% from the July 30th total of 3,176,936 shares. Approximately 54.4% of the shares of the stock are sold short. Based on an average trading volume of 61,894,576 shares, the days-to-cover ratio is presently 0.1 days.

Hedge Funds Weigh In On GraniteShares 2x Short NVDA Daily ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in NVD. Optiver Holding B.V. grew its stake in shares of GraniteShares 2x Short NVDA Daily ETF by 1,209.1% during the first quarter. Optiver Holding B.V. now owns 175,687 shares of the company’s stock worth $1,326,000 after buying an additional 162,267 shares during the last quarter. IMC Chicago LLC bought a new position in shares of GraniteShares 2x Short NVDA Daily ETF in the 1st quarter valued at $2,222,000. Group One Trading LLC boosted its holdings in shares of GraniteShares 2x Short NVDA Daily ETF by 43.6% during the 2nd quarter. Group One Trading LLC now owns 17,241 shares of the company’s stock valued at $218,000 after acquiring an additional 5,237 shares in the last quarter. StoneX Group Inc. acquired a new stake in shares of GraniteShares 2x Short NVDA Daily ETF during the 4th quarter valued at $287,000. Finally, Jane Street Group LLC boosted its holdings in shares of GraniteShares 2x Short NVDA Daily ETF by 85.9% during the 1st quarter. Jane Street Group LLC now owns 58,700 shares of the company’s stock valued at $2,032,000 after acquiring an additional 27,126 shares in the last quarter.

GraniteShares 2x Short NVDA Daily ETF Trading Down 3.0%

NVD opened at $3.93 on Tuesday. The company has a market cap of $43.11 million, a P/E ratio of -32.75 and a beta of -3.06. The company’s 50 day moving average is $4.71 and its 200-day moving average is $5.54. GraniteShares 2x Short NVDA Daily ETF has a 1-year low of $3.61 and a 1-year high of $11.41.

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.