GraniteShares 2x Long MRVL Daily ETF (NASDAQ:MVLL) Trading Down 11.8% – What’s Next?

GraniteShares 2x Long MRVL Daily ETF (NASDAQ:MVLL)’s share price traded down 11.8% on Tuesday . The company traded as low as $169.60 and last traded at $171.70. 2,083,122 shares changed hands during mid-day trading, an increase of 88% from the average session volume of 1,110,944 shares. The stock had previously closed at $194.66.

GraniteShares 2x Long MRVL Daily ETF Price Performance

The stock’s 50-day moving average is $87.13 and its two-hundred day moving average is $44.51.

Institutional Trading of GraniteShares 2x Long MRVL Daily ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Group One Trading LLC purchased a new stake in GraniteShares 2x Long MRVL Daily ETF in the 2nd quarter worth about $33,000. Simplex Trading LLC increased its position in shares of GraniteShares 2x Long MRVL Daily ETF by 269.4% during the fourth quarter. Simplex Trading LLC now owns 4,654 shares of the company’s stock worth $100,000 after acquiring an additional 3,394 shares during the period. Finally, Optiver Holding B.V. increased its position in shares of GraniteShares 2x Long MRVL Daily ETF by 225.1% during the third quarter. Optiver Holding B.V. now owns 21,946 shares of the company’s stock worth $519,000 after acquiring an additional 15,196 shares during the period.

About GraniteShares 2x Long MRVL Daily ETF

GraniteShares 2x Long MRVL Daily ETF is an ETF incorporated in the United States. The Fund seeks daily investment results, before fees and expenses, of +200% of the daily performance of the common stock of Marvell Technology, inc.