Short Interest in GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Rises By 15.6%

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) was the recipient of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 18,370,000 shares, an increase of 15.6% from the August 15th total of 15,890,000 shares. Based on an average daily trading volume, of 24,529,300 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in NVDL. Private Ocean LLC purchased a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the 2nd quarter worth about $35,000. National Bank of Canada FI acquired a new position in shares of GraniteShares 2x Long NVDA Daily ETF during the 2nd quarter worth about $42,000. NBC Securities Inc. acquired a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the first quarter worth about $59,000. Gilliland Jeter Wealth Management LLC acquired a new position in GraniteShares 2x Long NVDA Daily ETF in the 2nd quarter valued at $72,000. Finally, Hollencrest Capital Management lifted its holdings in GraniteShares 2x Long NVDA Daily ETF by 5,677.8% in the second quarter. Hollencrest Capital Management now owns 1,040 shares of the company’s stock valued at $72,000 after acquiring an additional 1,022 shares during the period.

GraniteShares 2x Long NVDA Daily ETF Stock Performance

Shares of NASDAQ NVDL traded down $1.08 during mid-day trading on Tuesday, reaching $53.24. The company’s stock had a trading volume of 14,910,010 shares, compared to its average volume of 17,751,447. GraniteShares 2x Long NVDA Daily ETF has a 52 week low of $11.94 and a 52 week high of $91.70. The stock has a fifty day moving average of $58.25 and a two-hundred day moving average of $52.97.

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.