GraniteShares 2x Long RIVN Daily ETF (NASDAQ:RVNL) Stock Price Up 1.7% – Here’s Why

GraniteShares 2x Long RIVN Daily ETF (NASDAQ:RVNL)’s share price were up 1.7% during mid-day trading on Wednesday . The company traded as high as $32.04 and last traded at $30.67. Approximately 24,986 shares changed hands during trading, a decline of 48% from the average daily volume of 47,946 shares. The stock had previously closed at $30.15.

GraniteShares 2x Long RIVN Daily ETF Price Performance

The company’s 50-day moving average price is $43.78 and its 200 day moving average price is $38.54.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in RVNL. Optiver Holding B.V. raised its position in shares of GraniteShares 2x Long RIVN Daily ETF by 3.5% in the 3rd quarter. Optiver Holding B.V. now owns 7,503 shares of the company’s stock worth $281,000 after acquiring an additional 252 shares in the last quarter. Jane Street Group LLC purchased a new stake in GraniteShares 2x Long RIVN Daily ETF in the fourth quarter worth $231,000. Finally, Austin Wealth Management LLC purchased a new position in GraniteShares 2x Long RIVN Daily ETF during the third quarter valued at $423,000.

GraniteShares 2x Long RIVN Daily ETF Company Profile

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.