GraniteShares 2x Long LCID Daily ETF (NASDAQ:LCDL) Trading Down 18.1% – Time to Sell?

GraniteShares 2x Long LCID Daily ETF (NASDAQ:LCDL)’s share price traded down 18.1% during mid-day trading on Thursday . The company traded as low as $0.7184 and last traded at $0.7322. 1,410,337 shares were traded during trading, an increase of 139% from the average daily volume of 590,280 shares. The stock had previously closed at $0.8944.

GraniteShares 2x Long LCID Daily ETF Stock Performance

The firm has a fifty day simple moving average of $0.75 and a 200 day simple moving average of $2.11.

Institutional Investors Weigh In On GraniteShares 2x Long LCID Daily ETF

An institutional investor recently raised its position in GraniteShares 2x Long LCID Daily ETF stock. Optiver Holding B.V. increased its holdings in shares of GraniteShares 2x Long LCID Daily ETF (NASDAQ:LCDL) by 506.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 83,968 shares of the company’s stock after purchasing an additional 70,131 shares during the period. Optiver Holding B.V. owned 1.22% of GraniteShares 2x Long LCID Daily ETF worth $188,000 as of its most recent filing with the SEC.

About GraniteShares 2x Long LCID Daily ETF

GraniteShares ETF Trust – GraniteShares 2x Long LCID 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, manufacturing, and selling electric vehicles, ev powertrains and battery systems using its own equipment and factories sectors. It uses derivatives such as swaps to create its portfolio.