GraniteShares 2x Short NVDA Daily ETF Sees Unusually High Options Volume (NASDAQ:NVD)

GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD) saw some unusual options trading activity on Thursday. Traders acquired 4,019 call options on the stock. This is an increase of 42% compared to the typical volume of 2,828 call options.

GraniteShares 2x Short NVDA Daily ETF Price Performance

Shares of GraniteShares 2x Short NVDA Daily ETF stock traded up $0.14 during trading on Thursday, reaching $1.87. 45,866,219 shares of the stock traded hands, compared to its average volume of 16,340,064. GraniteShares 2x Short NVDA Daily ETF has a 52-week low of $1.60 and a 52-week high of $31.45. The business has a fifty day simple moving average of $2.18 and a two-hundred day simple moving average of $4.07. The company has a market capitalization of $41.44 million, a price-to-earnings ratio of -14.42 and a beta of -4.30.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC bought a new stake in GraniteShares 2x Short NVDA Daily ETF in the 2nd quarter worth approximately $33,000. Midland Wealth Advisors LLC purchased a new position in shares of GraniteShares 2x Short NVDA Daily ETF in the second quarter valued at $44,000. Ground Swell Capital LLC increased its position in GraniteShares 2x Short NVDA Daily ETF by 117.5% in the second quarter. Ground Swell Capital LLC now owns 21,929 shares of the company’s stock worth $48,000 after purchasing an additional 11,847 shares during the last quarter. Crescent Grove Advisors LLC purchased a new stake in GraniteShares 2x Short NVDA Daily ETF during the first quarter valued at $172,000. Finally, Scientech Research LLC purchased a new stake in GraniteShares 2x Short NVDA Daily ETF during the second quarter valued at $178,000.

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.