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

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) saw a large drop in short interest in November. As of November 30th, there was short interest totalling 9,260,000 shares, a drop of 22.6% from the November 15th total of 11,970,000 shares. Based on an average daily volume of 18,266,400 shares, the short-interest ratio is presently 0.5 days.

GraniteShares 2x Long NVDA Daily ETF Stock Down 3.3 %

NASDAQ:NVDL traded down $2.23 during mid-day trading on Monday, hitting $64.83. The stock had a trading volume of 20,308,619 shares, compared to its average volume of 17,731,486. GraniteShares 2x Long NVDA Daily ETF has a twelve month low of $13.94 and a twelve month high of $91.70. The stock has a 50-day simple moving average of $74.67 and a two-hundred day simple moving average of $66.68.

Institutional Investors Weigh In On GraniteShares 2x Long NVDA Daily ETF

Hedge funds and other institutional investors have recently modified their holdings of the company. Weaver Consulting Group grew its stake in shares of GraniteShares 2x Long NVDA Daily ETF by 4.7% during the third quarter. Weaver Consulting Group now owns 4,472 shares of the company’s stock worth $260,000 after purchasing an additional 200 shares in the last quarter. SeaCrest Wealth Management LLC boosted its position in shares of GraniteShares 2x Long NVDA Daily ETF by 3.6% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 6,339 shares of the company’s stock worth $369,000 after acquiring an additional 221 shares in the last quarter. Private Ocean LLC purchased a new position in shares of GraniteShares 2x Long NVDA Daily ETF in the 2nd quarter valued at about $35,000. National Bank of Canada FI acquired a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the 2nd quarter worth about $42,000. Finally, AlphaMark Advisors LLC lifted its stake in GraniteShares 2x Long NVDA Daily ETF by 11.4% during the third quarter. AlphaMark Advisors LLC now owns 6,774 shares of the company’s stock worth $394,000 after purchasing an additional 694 shares during the last quarter.

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.