GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD) Short Interest Up 97.8% in May

GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD) saw a large increase in short interest in the month of May. As of May 15th, there was short interest totaling 4,981,217 shares, an increase of 97.8% from the April 30th total of 2,518,649 shares. Based on an average daily volume of 80,333,712 shares, the days-to-cover ratio is presently 0.1 days. Currently, 26.0% of the shares of the company are sold short.

GraniteShares 2x Short NVDA Daily ETF Stock Down 12.4%

NASDAQ NVD opened at $4.29 on Tuesday. The stock has a market cap of $82.24 million, a P/E ratio of -35.75 and a beta of -3.08. The company’s 50-day simple moving average is $5.81 and its 200 day simple moving average is $6.97. GraniteShares 2x Short NVDA Daily ETF has a twelve month low of $3.93 and a twelve month high of $17.35.

Institutional Trading of GraniteShares 2x Short NVDA Daily ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NVD. Genesis Financial Group LLC boosted its position in GraniteShares 2x Short NVDA Daily ETF by 67.3% in the first quarter. Genesis Financial Group LLC now owns 114,888 shares of the company’s stock valued at $867,000 after buying an additional 46,225 shares in the last quarter. MWA Asset Management bought a new position in shares of GraniteShares 2x Short NVDA Daily ETF in the first quarter valued at approximately $83,000. Group One Trading LLC bought a new position in shares of GraniteShares 2x Short NVDA Daily ETF in the first quarter valued at approximately $262,000. IMC Chicago LLC bought a new position in shares of GraniteShares 2x Short NVDA Daily ETF in the first quarter valued at approximately $2,222,000. Finally, Corient Private Wealth LLC bought a new position in shares of GraniteShares 2x Short NVDA Daily ETF in the fourth quarter valued at approximately $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.