Short Interest in GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD) Drops By 59.7%

GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD) was the target of a large decline in short interest in February. As of February 28th, there was short interest totalling 148,700 shares, a decline of 59.7% from the February 13th total of 368,700 shares. Approximately 5.5% of the company’s stock are sold short. Based on an average trading volume of 3,497,900 shares, the short-interest ratio is currently 0.0 days.

GraniteShares 2x Short NVDA Daily ETF Stock Performance

Shares of NASDAQ NVD traded down $3.11 during mid-day trading on Friday, reaching $28.15. The company had a trading volume of 4,309,321 shares, compared to its average volume of 4,446,666. The stock has a market capitalization of $75.44 million, a PE ratio of -234.58 and a beta of -4.30. GraniteShares 2x Short NVDA Daily ETF has a twelve month low of $22.16 and a twelve month high of $171.50. The stock’s 50 day moving average is $28.60 and its 200-day moving average is $33.71.

GraniteShares 2x Short NVDA Daily ETF Announces Dividend

The company also recently declared a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 27th were issued a dividend of $2.608 per share. The ex-dividend date of this dividend was Friday, December 27th. GraniteShares 2x Short NVDA Daily ETF’s dividend payout ratio is -2,166.67%.

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

A number of hedge funds have recently added to or reduced their stakes in NVD. IHT Wealth Management LLC acquired a new stake in GraniteShares 2x Short NVDA Daily ETF in the third quarter valued at approximately $1,232,000. SBI Securities Co. Ltd. bought a new position in shares of GraniteShares 2x Short NVDA Daily ETF during the 4th quarter valued at $31,000. Trek Financial LLC acquired a new stake in shares of GraniteShares 2x Short NVDA Daily ETF in the 4th quarter valued at $5,742,000. Finally, Tower Research Capital LLC TRC bought a new stake in GraniteShares 2x Short NVDA Daily ETF in the fourth quarter worth $300,000.

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.