GraniteShares 2x Long MRVL Daily ETF (NASDAQ:MVLL) Trading Up 9.6% – Time to Buy?

Shares of GraniteShares 2x Long MRVL Daily ETF (NASDAQ:MVLL) shot up 9.6% during mid-day trading on Wednesday . The stock traded as high as $175.00 and last traded at $170.70. 557,282 shares traded hands during trading, a decline of 50% from the average session volume of 1,116,021 shares. The stock had previously closed at $155.79.

GraniteShares 2x Long MRVL Daily ETF Price Performance

The stock has a fifty day moving average of $89.65 and a two-hundred day moving average of $45.44.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Group One Trading LLC acquired a new position in GraniteShares 2x Long MRVL Daily ETF in the second quarter valued at $33,000. Simplex Trading LLC boosted its holdings in GraniteShares 2x Long MRVL Daily ETF by 269.4% in the fourth quarter. Simplex Trading LLC now owns 4,654 shares of the company’s stock valued at $100,000 after acquiring an additional 3,394 shares during the last quarter. Finally, Optiver Holding B.V. boosted its holdings in GraniteShares 2x Long MRVL Daily ETF by 225.1% in the third quarter. Optiver Holding B.V. now owns 21,946 shares of the company’s stock valued at $519,000 after acquiring an additional 15,196 shares during the last quarter.

GraniteShares 2x Long MRVL Daily ETF Company Profile

GraniteShares 2x Long MRVL Daily ETF is an ETF incorporated in the United States. The Fund seeks daily investment results, before fees and expenses, of +200% of the daily performance of the common stock of Marvell Technology, inc.