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

GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD) was the target of a significant drop in short interest in 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. Approximately 10.2% of the company’s stock are short sold. Based on an average daily volume of 96,224,042 shares, the short-interest ratio is presently 0.0 days.

GraniteShares 2x Short NVDA Daily ETF Price Performance

NASDAQ:NVD traded down $0.14 during mid-day trading on Wednesday, reaching $5.77. The stock had a trading volume of 106,293,884 shares, compared to its average volume of 74,366,484. The company has a market capitalization of $74.14 million, a price-to-earnings ratio of -48.08 and a beta of -3.37. GraniteShares 2x Short NVDA Daily ETF has a 1-year low of $5.68 and a 1-year high of $36.90. The stock’s 50 day simple moving average is $7.13 and its two-hundred day simple moving average is $7.72.

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

A number of hedge funds have recently bought and sold shares of the company. Corient Private Wealth LLC acquired a new position in GraniteShares 2x Short NVDA Daily ETF in the fourth quarter worth about $179,000. Jump Financial LLC boosted its stake in GraniteShares 2x Short NVDA Daily ETF by 1,202.4% in the fourth quarter. Jump Financial LLC now owns 390,688 shares of the company’s stock valued at $2,793,000 after acquiring an additional 360,690 shares during the period. HRT Financial LP acquired a new position in GraniteShares 2x Short NVDA Daily ETF in the fourth quarter valued at approximately $119,000. StoneX Group Inc. acquired a new position in GraniteShares 2x Short NVDA Daily ETF in the fourth quarter valued at approximately $287,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in GraniteShares 2x Short NVDA Daily ETF in the fourth quarter valued at approximately $43,000.

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.