GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Short Interest Update

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) was the target of a large drop in short interest in February. As of February 15th, there was short interest totalling 9,850,000 shares, a drop of 43.0% from the January 31st total of 17,280,000 shares. Based on an average daily volume of 21,260,900 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. IFP Advisors Inc bought a new position in shares of GraniteShares 2x Long NVDA Daily ETF during the 4th quarter valued at $27,000. Tower Research Capital LLC TRC raised its holdings in shares of GraniteShares 2x Long NVDA Daily ETF by 26.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,088 shares of the company’s stock valued at $72,000 after purchasing an additional 229 shares in the last quarter. Spire Wealth Management bought a new position in shares of GraniteShares 2x Long NVDA Daily ETF during the 4th quarter valued at $78,000. CoreCap Advisors LLC raised its holdings in shares of GraniteShares 2x Long NVDA Daily ETF by 530.0% during the 4th quarter. CoreCap Advisors LLC now owns 1,575 shares of the company’s stock valued at $105,000 after purchasing an additional 1,325 shares in the last quarter. Finally, Centaurus Financial Inc. bought a new position in shares of GraniteShares 2x Long NVDA Daily ETF during the 3rd quarter valued at $134,000.

GraniteShares 2x Long NVDA Daily ETF Stock Down 17.3 %

Shares of GraniteShares 2x Long NVDA Daily ETF stock traded down $8.90 during midday trading on Monday, reaching $42.54. 42,301,399 shares of the company’s stock traded hands, compared to its average volume of 25,910,932. The company’s 50 day simple moving average is $63.00 and its 200 day simple moving average is $65.79. GraniteShares 2x Long NVDA Daily ETF has a 52 week low of $28.29 and a 52 week high of $91.70.

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.