GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD) Stock Price Down 5.6% – Here’s Why

GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD)’s stock price fell 5.6% during mid-day trading on Tuesday . The company traded as low as $31.40 and last traded at $31.40. 604,723 shares traded hands during trading, a decline of 27% from the average session volume of 826,688 shares. The stock had previously closed at $33.27.

GraniteShares 2x Short NVDA Daily ETF Stock Down 4.6 %

The company’s fifty day moving average price is $41.20 and its 200 day moving average price is $61.77. The company has a market capitalization of $81.61 million, a P/E ratio of -240.92 and a beta of -4.30.

Institutional Investors Weigh In On GraniteShares 2x Short NVDA Daily ETF

Large investors have recently bought and sold shares of the company. Scientech Research LLC bought a new stake in shares of GraniteShares 2x Short NVDA Daily ETF during the 2nd quarter worth $178,000. Ground Swell Capital LLC increased its holdings in GraniteShares 2x Short NVDA Daily ETF by 117.5% in the second quarter. Ground Swell Capital LLC now owns 21,929 shares of the company’s stock valued at $48,000 after purchasing an additional 11,847 shares during the period. Headlands Technologies LLC acquired a new position in shares of GraniteShares 2x Short NVDA Daily ETF in the second quarter worth approximately $33,000. Finally, Midland Wealth Advisors LLC acquired a new stake in shares of GraniteShares 2x Short NVDA Daily ETF during the second quarter worth $44,000.

GraniteShares 2x Short NVDA Daily ETF Company Profile

The GraniteShares 2x Short NVDA Daily ETF (NVD) is an exchange-traded fund that mostly invests in information technology equity. The fund provides 2x inverse leveraged exposure, less fees and expenses, to the daily price movement for shares of NVIDIA Corporation stock. NVD was launched on Aug 21, 2023 and is issued by GraniteShares.