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

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) saw a large increase in short interest during the month of June. As of June 30th, there was short interest totaling 17,303,610 shares, an increase of 162.9% from the June 15th total of 6,581,372 shares. Based on an average daily volume of 13,682,979 shares, the days-to-cover ratio is currently 1.3 days. Approximately 13.1% of the company’s stock are sold short.

Institutional Trading of GraniteShares 2x Long NVDA Daily ETF

Several large investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. bought a new position in shares of GraniteShares 2x Long NVDA Daily ETF in the 4th quarter valued at approximately $30,804,000. Renaissance Technologies LLC bought a new stake in GraniteShares 2x Long NVDA Daily ETF during the first quarter worth approximately $5,907,000. Corient Private Wealth LLC bought a new stake in GraniteShares 2x Long NVDA Daily ETF during the second quarter worth approximately $1,831,000. Harvest Fund Management Co. Ltd grew its holdings in GraniteShares 2x Long NVDA Daily ETF by 105.0% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 41,152 shares of the company’s stock valued at $3,622,000 after purchasing an additional 21,073 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in GraniteShares 2x Long NVDA Daily ETF by 412.7% during the third quarter. JPMorgan Chase & Co. now owns 22,410 shares of the company’s stock valued at $2,098,000 after purchasing an additional 18,039 shares during the last quarter.

GraniteShares 2x Long NVDA Daily ETF Stock Up 0.6%

NVDL stock opened at $33.37 on Thursday. GraniteShares 2x Long NVDA Daily ETF has a 1 year low of $21.54 and a 1 year high of $43.27. The company has a fifty day simple moving average of $33.53 and a 200 day simple moving average of $30.23.

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.