GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD) Shares Gap Up – Here’s Why

GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD)’s share price gapped up prior to trading on Monday . The stock had previously closed at $3.99, but opened at $4.26. GraniteShares 2x Short NVDA Daily ETF shares last traded at $4.2350, with a volume of 75,448,941 shares traded.

GraniteShares 2x Short NVDA Daily ETF Price Performance

The company has a market capitalization of $591.20 billion, a P/E ratio of -35.29 and a beta of -3.08. The company has a 50 day moving average of $4.42 and a 200-day moving average of $5.35.

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

Several institutional investors and hedge funds have recently modified their holdings of NVD. Wilmington Savings Fund Society FSB bought a new stake in GraniteShares 2x Short NVDA Daily ETF during the 4th quarter valued at approximately $43,000. MWA Asset Management bought a new position in shares of GraniteShares 2x Short NVDA Daily ETF during the first quarter valued at approximately $83,000. HRT Financial LP purchased a new position in shares of GraniteShares 2x Short NVDA Daily ETF during the fourth quarter valued at approximately $119,000. Corient Private Wealth LLC bought a new stake in shares of GraniteShares 2x Short NVDA Daily ETF in the 4th quarter worth approximately $179,000. Finally, StoneX Group Inc. grew its stake in shares of GraniteShares 2x Short NVDA Daily ETF by 83.0% in the 2nd quarter. StoneX Group Inc. now owns 15,879 shares of the company’s stock worth $201,000 after buying an additional 7,200 shares during the last quarter.

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.