GraniteShares 2x Long MRVL Daily ETF (NASDAQ:MVLL) Shares Down 8.8% – Should You Sell?

GraniteShares 2x Long MRVL Daily ETF (NASDAQ:MVLL) dropped 8.8% during trading on Wednesday . The stock traded as low as $137.75 and last traded at $139.47. Approximately 592,493 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 1,169,439 shares. The stock had previously closed at $152.87.

GraniteShares 2x Long MRVL Daily ETF Trading Down 5.3%

The stock has a fifty day simple moving average of $104.05 and a two-hundred day simple moving average of $50.83.

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

A number of large investors have recently modified their holdings of MVLL. Simplex Trading LLC grew its stake in GraniteShares 2x Long MRVL Daily ETF by 269.4% during 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 in the last quarter. Group One Trading LLC lifted its stake in GraniteShares 2x Long MRVL Daily ETF by 185.8% in the 3rd quarter. Group One Trading LLC now owns 4,064 shares of the company’s stock worth $96,000 after purchasing an additional 2,642 shares in the last quarter. Finally, Optiver Holding B.V. boosted its holdings in GraniteShares 2x Long MRVL Daily ETF by 225.1% in the 3rd quarter. Optiver Holding B.V. now owns 21,946 shares of the company’s stock valued at $519,000 after purchasing an additional 15,196 shares during the period.

About GraniteShares 2x Long MRVL Daily ETF

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.