GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD) Stock Price Up 17.1% – Here’s What Happened

GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD)’s stock price shot up 17.1% on Monday . The company traded as high as $33.98 and last traded at $33.24. 5,986,745 shares were traded during mid-day trading, an increase of 41% from the average session volume of 4,236,550 shares. The stock had previously closed at $28.38.

GraniteShares 2x Short NVDA Daily ETF Stock Performance

The stock has a market capitalization of $89.08 million, a PE ratio of -277.00 and a beta of -4.30. The stock’s 50-day moving average price is $27.93 and its two-hundred day moving average price is $34.23.

GraniteShares 2x Short NVDA Daily ETF Dividend Announcement

The firm also recently announced a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 27th were paid a dividend of $2.608 per share. The ex-dividend date was Friday, December 27th. GraniteShares 2x Short NVDA Daily ETF’s dividend payout ratio is -2,166.67%.

Institutional Trading of GraniteShares 2x Short NVDA Daily ETF

A number of hedge funds have recently made changes to their positions in the stock. SBI Securities Co. Ltd. bought a new position in GraniteShares 2x Short NVDA Daily ETF during the 4th quarter valued at approximately $31,000. Tower Research Capital LLC TRC purchased a new stake in shares of GraniteShares 2x Short NVDA Daily ETF in the fourth quarter worth $300,000. Trek Financial LLC bought a new position in shares of GraniteShares 2x Short NVDA Daily ETF during the fourth quarter valued at $5,742,000. Finally, IHT Wealth Management LLC bought a new position in shares of GraniteShares 2x Short NVDA Daily ETF during the third quarter valued at $1,232,000.

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.