GraniteShares 2x Long RIVN Daily ETF (NASDAQ:RVNL) Trading Up 2% – Still a Buy?

GraniteShares 2x Long RIVN Daily ETF (NASDAQ:RVNL) traded up 2% on Friday . The company traded as high as $31.29 and last traded at $29.68. 35,845 shares traded hands during mid-day trading, a decline of 22% from the average session volume of 45,711 shares. The stock had previously closed at $29.10.

GraniteShares 2x Long RIVN Daily ETF Stock Up 2.0%

The business has a 50 day moving average price of $30.92 and a two-hundred day moving average price of $38.11.

Hedge Funds Weigh In On GraniteShares 2x Long RIVN Daily ETF

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Optiver Holding B.V. boosted its stake 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 buying an additional 252 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of GraniteShares 2x Long RIVN Daily ETF in the 4th quarter worth approximately $231,000. Finally, Austin Wealth Management LLC purchased a new position in shares of GraniteShares 2x Long RIVN Daily ETF in the 3rd quarter worth approximately $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.