Short Interest in GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD) Declines By 25.2%

GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD) saw a significant drop in short interest in the month of March. As of March 31st, there was short interest totaling 1,302,829 shares, a drop of 25.2% from the March 15th total of 1,742,570 shares. Based on an average daily volume of 96,224,042 shares, the days-to-cover ratio is presently 0.0 days. Currently, 10.2% of the company’s stock are sold short.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NVD. SBI Securities Co. Ltd. increased its position in shares of GraniteShares 2x Short NVDA Daily ETF by 261.1% during the third quarter. SBI Securities Co. Ltd. now owns 5,186 shares of the company’s stock worth $45,000 after acquiring an additional 3,750 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of GraniteShares 2x Short NVDA Daily ETF during the fourth quarter worth about $43,000. MWA Asset Management purchased a new stake in shares of GraniteShares 2x Short NVDA Daily ETF during the third quarter worth about $87,000. StoneX Group Inc. increased its position in shares of GraniteShares 2x Short NVDA Daily ETF by 83.0% during the second quarter. StoneX Group Inc. now owns 15,879 shares of the company’s stock worth $201,000 after acquiring an additional 7,200 shares during the last quarter. Finally, HRT Financial LP purchased a new stake in shares of GraniteShares 2x Short NVDA Daily ETF during the fourth quarter worth about $119,000.

GraniteShares 2x Short NVDA Daily ETF Trading Down 2.4%

NASDAQ:NVD traded down $0.14 during mid-day trading on Wednesday, hitting $5.77. The company had a trading volume of 106,293,884 shares, compared to its average volume of 74,366,484. The business has a fifty day simple moving average of $7.13 and a 200-day simple moving average of $7.72. GraniteShares 2x Short NVDA Daily ETF has a 1 year low of $5.68 and a 1 year high of $36.90. The firm has a market capitalization of $74.14 million, a price-to-earnings ratio of -48.08 and a beta of -3.37.

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.