GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD) Share Price Pass Below 200 Day Moving Average – Time to Sell?

GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD) shares crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $52.67 and traded as low as $29.97. GraniteShares 2x Short NVDA Daily ETF shares last traded at $32.55, with a volume of 2,449,604 shares trading hands.

GraniteShares 2x Short NVDA Daily ETF Stock Up 8.6 %

The company has a market capitalization of $96.35 million, a P/E ratio of -271.25 and a beta of -4.30. The company has a 50-day moving average of $35.20 and a two-hundred day moving average of $52.05.

Institutional Trading of GraniteShares 2x Short NVDA Daily ETF

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Headlands Technologies LLC purchased a new position in GraniteShares 2x Short NVDA Daily ETF during the 2nd quarter valued at about $33,000. Scientech Research LLC purchased a new position in shares of GraniteShares 2x Short NVDA Daily ETF during the second quarter valued at approximately $178,000. Ground Swell Capital LLC boosted its position in shares of GraniteShares 2x Short NVDA Daily ETF by 117.5% in the 2nd quarter. Ground Swell Capital LLC now owns 21,929 shares of the company’s stock worth $48,000 after purchasing an additional 11,847 shares in the last quarter. Midland Wealth Advisors LLC purchased a new stake in shares of GraniteShares 2x Short NVDA Daily ETF in the 2nd quarter worth approximately $44,000. Finally, IHT Wealth Management LLC bought a new position in GraniteShares 2x Short NVDA Daily ETF during the 3rd quarter valued at approximately $1,232,000.

About GraniteShares 2x Short NVDA Daily ETF

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.