Short Interest in GraniteShares 2x Long RIVN Daily ETF (NASDAQ:RVNL) Declines By 31.0%

GraniteShares 2x Long RIVN Daily ETF (NASDAQ:RVNL) was the target of a significant drop in short interest in the month of December. As of December 15th, there was short interest totaling 24,012 shares, a drop of 31.0% from the November 30th total of 34,781 shares. Based on an average trading volume of 97,235 shares, the days-to-cover ratio is presently 0.2 days. Currently, 10.0% of the shares of the company are sold short. Currently, 10.0% of the shares of the company are sold short. Based on an average trading volume of 97,235 shares, the days-to-cover ratio is presently 0.2 days.

GraniteShares 2x Long RIVN Daily ETF Stock Performance

NASDAQ RVNL traded down $0.76 during trading on Monday, reaching $62.98. The company’s stock had a trading volume of 24,304 shares, compared to its average volume of 45,790. The firm has a 50 day moving average price of $42.92 and a 200 day moving average price of $36.38. GraniteShares 2x Long RIVN Daily ETF has a 12 month low of $24.49 and a 12 month high of $75.17.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in GraniteShares 2x Long RIVN Daily ETF stock. Austin Wealth Management LLC acquired a new position in shares of GraniteShares 2x Long RIVN Daily ETF (NASDAQ:RVNL) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,271 shares of the company’s stock, valued at approximately $423,000. Austin Wealth Management LLC owned 4.70% of GraniteShares 2x Long RIVN Daily ETF as of its most recent SEC filing.

About GraniteShares 2x Long RIVN Daily ETF

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.