Traders Buy High Volume of Call Options on GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD)

GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD) was the target of unusually large options trading on Wednesday. Stock investors acquired 3,164 call options on the stock. This is an increase of 223% compared to the typical daily volume of 979 call options.

GraniteShares 2x Short NVDA Daily ETF Stock Performance

Shares of NVD traded down $0.27 during trading hours on Wednesday, hitting $6.98. The stock had a trading volume of 10,015,793 shares, compared to its average volume of 73,044,922. The firm has a market cap of $89.27 million, a P/E ratio of -58.17 and a beta of -3.37. The company’s fifty day simple moving average is $7.17 and its 200 day simple moving average is $7.83. GraniteShares 2x Short NVDA Daily ETF has a 12-month low of $6.12 and a 12-month high of $41.11.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in NVD. Jane Street Group LLC raised its position in shares of 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 period. StoneX Group Inc. raised its position in GraniteShares 2x Short NVDA Daily ETF by 83.0% in the second quarter. StoneX Group Inc. now owns 15,879 shares of the company’s stock valued at $201,000 after purchasing an additional 7,200 shares during the period. Jump Financial LLC raised its position in GraniteShares 2x Short NVDA Daily ETF by 402.9% in the second quarter. Jump Financial LLC now owns 186,494 shares of the company’s stock valued at $2,357,000 after purchasing an additional 149,408 shares during the period. Group One Trading LLC raised its position in GraniteShares 2x Short NVDA Daily ETF by 43.6% in the second quarter. Group One Trading LLC now owns 17,241 shares of the company’s stock valued at $218,000 after purchasing an additional 5,237 shares during the period. Finally, Trek Financial LLC purchased a new position in GraniteShares 2x Short NVDA Daily ETF in the third quarter valued at about $8,056,000.

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.