GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD) Stock Price Up 1.2% – Here’s What Happened

GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD) shot up 1.2% during mid-day trading on Friday . The stock traded as high as $8.65 and last traded at $8.52. 26,762,868 shares traded hands during mid-day trading, an increase of 97% from the average session volume of 13,570,394 shares. The stock had previously closed at $8.42.

GraniteShares 2x Short NVDA Daily ETF Trading Up 1.2%

The stock’s 50 day moving average price is $8.40 and its two-hundred day moving average price is $10.81. The firm has a market capitalization of $166.14 million, a PE ratio of -71.00 and a beta of -3.35.

Hedge Funds Weigh In On GraniteShares 2x Short NVDA Daily ETF

Institutional investors and hedge funds have recently modified their holdings of the company. Trek Financial LLC acquired a new stake in shares of GraniteShares 2x Short NVDA Daily ETF during the third quarter worth $8,056,000. Jump Financial LLC lifted its position in GraniteShares 2x Short NVDA Daily ETF by 402.9% during the second quarter. Jump Financial LLC now owns 186,494 shares of the company’s stock worth $2,357,000 after buying an additional 149,408 shares during the period. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in GraniteShares 2x Short NVDA Daily ETF in the 2nd quarter worth about $384,000. Jane Street Group LLC boosted its stake in GraniteShares 2x Short NVDA Daily ETF by 85.9% in the 1st quarter. Jane Street Group LLC now owns 58,700 shares of the company’s stock worth $2,032,000 after buying an additional 27,126 shares during the last quarter. Finally, Hamilton Wealth LLC purchased a new stake in GraniteShares 2x Short NVDA Daily ETF in the 3rd quarter valued at about $164,000.

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.