GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Short Interest Down 34.1% in August

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) was the target of a significant drop in short interest in the month of August. As of August 14th, there was short interest totaling 13,572,206 shares, a drop of 34.1% from the July 30th total of 20,606,034 shares. Currently, 12.2% of the company’s stock are short sold. Based on an average daily volume of 13,735,219 shares, the days-to-cover ratio is presently 1.0 days.

Institutional Trading of GraniteShares 2x Long NVDA Daily ETF

Several large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. acquired a new position in shares of GraniteShares 2x Long NVDA Daily ETF during the 4th quarter worth $30,804,000. Corient Private Wealth LP acquired a new position in GraniteShares 2x Long NVDA Daily ETF during the second quarter worth $2,777,000. Renaissance Technologies LLC bought a new position in GraniteShares 2x Long NVDA Daily ETF during the first quarter valued at about $5,907,000. Corient Private Wealth LLC bought a new position in GraniteShares 2x Long NVDA Daily ETF during the second quarter valued at about $1,831,000. Finally, Harvest Fund Management Co. Ltd lifted its position in shares of GraniteShares 2x Long NVDA Daily ETF by 105.0% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 41,152 shares of the company’s stock worth $3,622,000 after buying an additional 21,073 shares during the last quarter.

GraniteShares 2x Long NVDA Daily ETF Stock Down 3.0%

GraniteShares 2x Long NVDA Daily ETF stock traded down $1.04 during trading hours on Tuesday, hitting $33.72. The company had a trading volume of 11,119,126 shares, compared to its average volume of 23,864,713. GraniteShares 2x Long NVDA Daily ETF has a fifty-two week low of $21.54 and a fifty-two week high of $43.27. The firm’s fifty day moving average is $31.87 and its 200-day moving average is $31.14.

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.