GraniteShares 2x Long RIVN Daily ETF (NASDAQ:RVNL) Sees Significant Drop in Short Interest

GraniteShares 2x Long RIVN Daily ETF (NASDAQ:RVNL) saw a significant drop in short interest in July. As of July 31st, there was short interest totaling 4,836 shares, a drop of 57.4% from the July 15th total of 11,347 shares. Based on an average daily volume of 94,717 shares, the days-to-cover ratio is presently 0.1 days. Currently, 1.1% of the company’s stock are sold short.

Hedge Funds Weigh In On GraniteShares 2x Long RIVN Daily ETF

A hedge fund recently bought a new stake in GraniteShares 2x Long RIVN Daily ETF stock. Jane Street Group LLC purchased a new stake in GraniteShares 2x Long RIVN Daily ETF (NASDAQ:RVNL) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,089 shares of the company’s stock, valued at approximately $231,000. Jane Street Group LLC owned approximately 1.78% of GraniteShares 2x Long RIVN Daily ETF at the end of the most recent reporting period.

GraniteShares 2x Long RIVN Daily ETF Stock Down 5.9%

RVNL traded down $1.38 on Monday, reaching $21.83. The stock had a trading volume of 146,518 shares, compared to its average volume of 66,368. The business’s 50-day moving average price is $28.84 and its two-hundred day moving average price is $29.87. GraniteShares 2x Long RIVN Daily ETF has a 12-month low of $19.25 and a 12-month high of $75.17.

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.