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

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

Institutional Trading of GraniteShares 2x Long NVDA Daily ETF

Hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its position in shares of GraniteShares 2x Long NVDA Daily ETF by 8.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 78,492 shares of the company’s stock worth $4,567,000 after buying an additional 5,839 shares in the last quarter. Strategic Blueprint LLC acquired a new position in shares of GraniteShares 2x Long NVDA Daily ETF in the 3rd quarter worth approximately $351,000. Hollencrest Capital Management grew its stake in shares of GraniteShares 2x Long NVDA Daily ETF by 453.4% in the 3rd quarter. Hollencrest Capital Management now owns 5,755 shares of the company’s stock worth $335,000 after purchasing an additional 4,715 shares during the last quarter. HighTower Advisors LLC acquired a new position in shares of GraniteShares 2x Long NVDA Daily ETF in the 3rd quarter worth approximately $210,000. Finally, Flow Traders U.S. LLC grew its stake in shares of GraniteShares 2x Long NVDA Daily ETF by 225.4% in the 3rd quarter. Flow Traders U.S. LLC now owns 16,930 shares of the company’s stock worth $985,000 after purchasing an additional 11,727 shares during the last quarter.

GraniteShares 2x Long NVDA Daily ETF Stock Up 7.7 %

Shares of NVDL stock traded up $3.68 during midday trading on Friday, reaching $51.44. 30,996,158 shares of the company were exchanged, compared to its average volume of 25,487,467. GraniteShares 2x Long NVDA Daily ETF has a 12 month low of $28.29 and a 12 month high of $91.70. The company’s 50 day moving average price is $63.59 and its two-hundred day moving average price is $65.88.

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.