GraniteShares 2x Long LCID Daily ETF (NASDAQ:LCDL) Sees Large Drop in Short Interest

GraniteShares 2x Long LCID Daily ETF (NASDAQ:LCDL) was the target of a large drop in short interest in the month of January. As of January 30th, there was short interest totaling 144,314 shares, a drop of 40.5% from the January 15th total of 242,660 shares. Based on an average daily volume of 333,181 shares, the days-to-cover ratio is presently 0.4 days. Currently, 7.9% of the company’s stock are short sold. Currently, 7.9% of the company’s stock are short sold. Based on an average daily volume of 333,181 shares, the days-to-cover ratio is presently 0.4 days.

GraniteShares 2x Long LCID Daily ETF Stock Performance

LCDL traded up $0.18 during trading on Friday, hitting $2.77. 235,322 shares of the company’s stock were exchanged, compared to its average volume of 304,401. GraniteShares 2x Long LCID Daily ETF has a fifty-two week low of $2.45 and a fifty-two week high of $41.67. The business’s 50 day moving average is $3.56 and its two-hundred day moving average is $9.88.

About GraniteShares 2x Long LCID Daily ETF

GraniteShares ETF Trust – GraniteShares 2x Long LCID 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, manufacturing, and selling electric vehicles, ev powertrains and battery systems using its own equipment and factories sectors. It uses derivatives such as swaps to create its portfolio.