GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD) Stock Price Cross Below Two Hundred Day Moving Average – Here’s Why

GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD)’s share price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $52.67 and traded as low as $29.97. GraniteShares 2x Short NVDA Daily ETF shares last traded at $32.55, with a volume of 2,449,604 shares traded.

GraniteShares 2x Short NVDA Daily ETF Stock Performance

The company has a market capitalization of $96.35 million, a PE ratio of -271.25 and a beta of -4.30. The company’s 50-day moving average is $35.20 and its 200 day moving average is $52.05.

Institutional Investors Weigh In On GraniteShares 2x Short NVDA Daily ETF

Several institutional investors and hedge funds have recently made changes to their positions in the company. Headlands Technologies LLC bought a new position in GraniteShares 2x Short NVDA Daily ETF in the 2nd quarter valued at approximately $33,000. Midland Wealth Advisors LLC purchased a new position in shares of GraniteShares 2x Short NVDA Daily ETF in the second quarter worth $44,000. Ground Swell Capital LLC lifted its holdings in shares of GraniteShares 2x Short NVDA Daily ETF by 117.5% during the second quarter. Ground Swell Capital LLC now owns 21,929 shares of the company’s stock valued at $48,000 after purchasing an additional 11,847 shares in the last quarter. Scientech Research LLC purchased a new stake in shares of GraniteShares 2x Short NVDA Daily ETF during the second quarter valued at $178,000. Finally, IHT Wealth Management LLC bought a new stake in GraniteShares 2x Short NVDA Daily ETF in the 3rd quarter worth about $1,232,000.

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.