GraniteShares 2x Long RIVN Daily ETF (NASDAQ:RVNL) Sees Significant Decrease in Short Interest

GraniteShares 2x Long RIVN Daily ETF (NASDAQ:RVNL) was the recipient of a large drop in short interest in the month of May. As of May 15th, there was short interest totaling 5,385 shares, a drop of 51.4% from the April 30th total of 11,089 shares. Approximately 1.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 79,676 shares, the short-interest ratio is currently 0.1 days.

Hedge Funds Weigh In On GraniteShares 2x Long RIVN Daily ETF

Hedge funds have recently made changes to their positions in the business. Optiver Holding B.V. increased its holdings in shares of GraniteShares 2x Long RIVN Daily ETF by 82.4% in the 1st quarter. Optiver Holding B.V. now owns 15,558 shares of the company’s stock valued at $444,000 after purchasing an additional 7,030 shares during the period. Austin Wealth Management LLC purchased a new position in GraniteShares 2x Long RIVN Daily ETF during the third quarter valued at approximately $423,000. Finally, Jane Street Group LLC acquired a new position in GraniteShares 2x Long RIVN Daily ETF in the 4th quarter valued at approximately $231,000.

GraniteShares 2x Long RIVN Daily ETF Stock Up 11.6%

GraniteShares 2x Long RIVN Daily ETF stock traded up $4.09 during trading hours on Wednesday, hitting $39.34. 69,350 shares of the company traded hands, compared to its average volume of 52,499. The firm’s 50-day simple moving average is $28.98 and its two-hundred day simple moving average is $37.06. GraniteShares 2x Long RIVN Daily ETF has a 1-year low of $19.25 and a 1-year high of $75.17.

GraniteShares 2x Long RIVN Daily ETF Company Profile

GraniteShares ETF Trust – GraniteShares 2x Long RIVN Daily ETF is an exchange traded fund launched by GraniteShares Inc The fund is managed by GraniteShares Advisors LLC. It invests in public equity markets. The fund invests through derivatives in stocks of companies operating across automotive industry, designing, developing and manufacturing electric vehicles and accessories sectors. It uses derivatives such as swaps to create its portfolio. It invests in growth and value stocks of companies across diversified market capitalization.