GraniteShares 2x Long RIVN Daily ETF (NASDAQ:RVNL) Shares Up 20.9% – Should You Buy?

GraniteShares 2x Long RIVN Daily ETF (NASDAQ:RVNL) shares shot up 20.9% during mid-day trading on Friday . The company traded as high as $75.05 and last traded at $73.74. 187,462 shares traded hands during mid-day trading, an increase of 309% from the average session volume of 45,862 shares. The stock had previously closed at $60.97.

GraniteShares 2x Long RIVN Daily ETF Stock Performance

The company’s 50-day moving average is $39.28 and its 200-day moving average is $35.48.

Institutional Inflows and Outflows

An institutional investor recently raised its position in GraniteShares 2x Long RIVN Daily ETF stock. Optiver Holding B.V. increased its holdings in GraniteShares 2x Long RIVN Daily ETF (NASDAQ:RVNL) by 3.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 7,503 shares of the company’s stock after acquiring an additional 252 shares during the period. Optiver Holding B.V. owned approximately 3.13% of GraniteShares 2x Long RIVN Daily ETF worth $281,000 at the end of the most recent quarter.

About GraniteShares 2x Long RIVN Daily ETF

GraniteShares ETF Trust – GraniteShares 2x Long RIVN 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 and manufacturing electric vehicles and accessories sectors. It uses derivatives such as swaps to create its portfolio. It invests in growth and value stocks of companies across diversified market capitalization.