GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD) Stock Price Down 10.5% – Here’s Why

GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD) shares fell 10.5% on Wednesday . The company traded as low as $29.51 and last traded at $29.51. 4,574,925 shares changed hands during trading, an increase of 33% from the average session volume of 3,440,463 shares. The stock had previously closed at $32.98.

GraniteShares 2x Short NVDA Daily ETF Stock Performance

The stock has a 50 day moving average price of $29.99 and a two-hundred day moving average price of $38.88. The company has a market capitalization of $118.93 million, a PE ratio of -245.92 and a beta of -4.30.

GraniteShares 2x Short NVDA Daily ETF Announces Dividend

The company also recently declared a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 27th were paid a dividend of $2.608 per share. The ex-dividend date of this dividend was Friday, December 27th. GraniteShares 2x Short NVDA Daily ETF’s dividend payout ratio (DPR) is presently -2,166.67%.

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

A hedge fund recently bought a new stake in GraniteShares 2x Short NVDA Daily ETF stock. IHT Wealth Management LLC acquired a new stake in GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 690,000 shares of the company’s stock, valued at approximately $1,232,000. IHT Wealth Management LLC owned approximately 23.31% of GraniteShares 2x Short NVDA Daily ETF as of its most recent filing with the SEC.

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.