GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Short Interest Up 162.9% in June

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) was the target of a significant growth in short interest during the month of June. As of June 30th, there was short interest totaling 17,303,610 shares, a growth of 162.9% from the June 15th total of 6,581,372 shares. Currently, 13.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 13,682,979 shares, the short-interest ratio is presently 1.3 days.

GraniteShares 2x Long NVDA Daily ETF Stock Performance

NVDL opened at $30.74 on Tuesday. GraniteShares 2x Long NVDA Daily ETF has a twelve month low of $21.54 and a twelve month high of $43.27. The firm’s 50-day moving average price is $33.47 and its 200 day moving average price is $30.18.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. purchased a new stake in shares of GraniteShares 2x Long NVDA Daily ETF in the fourth quarter valued at approximately $30,804,000. Renaissance Technologies LLC acquired a new position in GraniteShares 2x Long NVDA Daily ETF during the first quarter worth $5,907,000. Hoey Investments Inc. boosted its stake in GraniteShares 2x Long NVDA Daily ETF by 12.6% during the first quarter. Hoey Investments Inc. now owns 44,234 shares of the company’s stock worth $3,210,000 after buying an additional 4,935 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its stake in GraniteShares 2x Long NVDA Daily ETF by 105.0% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 41,152 shares of the company’s stock worth $3,622,000 after buying an additional 21,073 shares during the last quarter. Finally, NewEdge Advisors LLC grew its holdings in GraniteShares 2x Long NVDA Daily ETF by 3.7% in the 3rd quarter. NewEdge Advisors LLC now owns 35,485 shares of the company’s stock valued at $3,322,000 after buying an additional 1,251 shares in the last quarter.

GraniteShares 2x Long NVDA Daily ETF Company Profile

The GraniteShares 1.5x Long NVDA Daily ETF (NVDL) is an exchange-traded fund that mostly invests in information technology equity. The fund provides 1.5x leveraged exposure, less fees and expenses, to the daily price movement for shares of NVIDIA Corporation stock. NVDL was launched on Dec 13, 2022 and is managed by GraniteShares.