GraniteShares 2x Short NVDA Daily ETF Target of Unusually High Options Trading (NASDAQ:NVD)

GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD) saw some unusual options trading activity on Wednesday. Traders acquired 3,164 call options on the stock. This represents an increase of approximately 223% compared to the typical volume of 979 call options.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Trek Financial LLC acquired a new position in shares of GraniteShares 2x Short NVDA Daily ETF in the third quarter worth about $8,056,000. Genesis Financial Group LLC acquired a new position in shares of GraniteShares 2x Short NVDA Daily ETF in the fourth quarter worth about $491,000. Hamilton Wealth LLC acquired a new position in shares of GraniteShares 2x Short NVDA Daily ETF in the third quarter worth about $164,000. SBI Securities Co. Ltd. boosted its holdings in shares of GraniteShares 2x Short NVDA Daily ETF by 261.1% in the third quarter. SBI Securities Co. Ltd. now owns 5,186 shares of the company’s stock worth $45,000 after buying an additional 3,750 shares during the period. Finally, MWA Asset Management acquired a new position in shares of GraniteShares 2x Short NVDA Daily ETF in the third quarter worth about $87,000.

GraniteShares 2x Short NVDA Daily ETF Price Performance

Shares of NVD opened at $6.92 on Thursday. GraniteShares 2x Short NVDA Daily ETF has a one year low of $6.12 and a one year high of $41.11. The company has a 50-day moving average of $7.18 and a two-hundred day moving average of $7.82. The stock has a market cap of $88.51 million, a price-to-earnings ratio of -57.67 and a beta of -3.37.

About GraniteShares 2x Short NVDA Daily ETF

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.