Short Interest in GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD) Decreases By 52.2%

GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD) saw a significant decline in short interest in the month of May. As of May 29th, there was short interest totaling 2,383,504 shares, a decline of 52.2% from the May 14th total of 4,981,217 shares. Based on an average daily trading volume, of 60,923,996 shares, the days-to-cover ratio is currently 0.0 days. Currently, 12.4% of the company’s shares are short sold.

GraniteShares 2x Short NVDA Daily ETF Stock Performance

Shares of NASDAQ NVD traded down $0.36 during mid-day trading on Monday, hitting $4.66. The stock had a trading volume of 59,167,876 shares, compared to its average volume of 72,397,328. GraniteShares 2x Short NVDA Daily ETF has a 1 year low of $3.93 and a 1 year high of $15.73. The business has a 50 day moving average price of $5.23 and a two-hundred day moving average price of $6.71. The firm has a market cap of $89.33 million, a P/E ratio of -38.83 and a beta of -3.01.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in NVD. Wilmington Savings Fund Society FSB purchased a new position in shares of GraniteShares 2x Short NVDA Daily ETF in the fourth quarter worth $43,000. MWA Asset Management purchased a new position in GraniteShares 2x Short NVDA Daily ETF during the 1st quarter valued at $83,000. HRT Financial LP purchased a new position in GraniteShares 2x Short NVDA Daily ETF during the 4th quarter valued at $119,000. Hamilton Wealth LLC purchased a new position in GraniteShares 2x Short NVDA Daily ETF during the 3rd quarter valued at $164,000. Finally, Corient Private Wealth LLC purchased a new position in GraniteShares 2x Short NVDA Daily ETF during the 4th quarter valued at $179,000.

GraniteShares 2x Short NVDA Daily ETF Company Profile

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.