GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Short Interest Up 162.9% in June

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) was the recipient of a large increase in short interest during the month of June. As of June 30th, there was short interest totaling 17,303,610 shares, an increase of 162.9% from the June 15th total of 6,581,372 shares. Currently, 13.1% of the company’s shares are sold short. Based on an average trading volume of 13,682,979 shares, the days-to-cover ratio is presently 1.3 days.

Institutional Trading of GraniteShares 2x Long NVDA Daily ETF

Hedge funds have recently made changes to their positions in the company. Financial Life Planners purchased a new stake in shares of GraniteShares 2x Long NVDA Daily ETF in the 1st quarter valued at approximately $25,000. Parallel Advisors LLC raised its position in shares of GraniteShares 2x Long NVDA Daily ETF by 104.3% during the 4th quarter. Parallel Advisors LLC now owns 613 shares of the company’s stock valued at $54,000 after buying an additional 313 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in GraniteShares 2x Long NVDA Daily ETF in the third quarter valued at approximately $88,000. CoreCap Advisors LLC lifted its holdings in GraniteShares 2x Long NVDA Daily ETF by 200.0% in the second quarter. CoreCap Advisors LLC now owns 3,462 shares of the company’s stock valued at $103,000 after acquiring an additional 2,308 shares during the last quarter. Finally, Headlands Technologies LLC grew its position in GraniteShares 2x Long NVDA Daily ETF by 953.1% in the second quarter. Headlands Technologies LLC now owns 1,685 shares of the company’s stock worth $119,000 after acquiring an additional 1,525 shares during the period.

GraniteShares 2x Long NVDA Daily ETF Price Performance

Shares of NVDL opened at $30.74 on Tuesday. GraniteShares 2x Long NVDA Daily ETF has a 12-month low of $21.54 and a 12-month high of $43.27. The firm has a 50-day moving average price of $33.47 and a 200 day moving average price of $30.18.

About GraniteShares 2x Long NVDA Daily ETF

The GraniteShares 1.5x Long NVDA Daily ETF (NVDL) is an exchange-traded fund that mostly invests in information technology equity. The fund provides 1.5x leveraged exposure, less fees and expenses, to the daily price movement for shares of NVIDIA Corporation stock. NVDL was launched on Dec 13, 2022 and is managed by GraniteShares.