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

GraniteShares 2x Long RIVN Daily ETF (NASDAQ:RVNL) was the recipient of a large decrease in short interest in August. As of August 31st, there was short interest totaling 7,558 shares, a decrease of 35.9% from the August 15th total of 11,788 shares. Based on an average trading volume of 95,306 shares, the days-to-cover ratio is presently 0.1 days. Approximately 1.7% of the company’s stock are short sold.

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

A hedge fund recently raised its position in GraniteShares 2x Long RIVN Daily ETF stock. Optiver Holding B.V. boosted its position in GraniteShares 2x Long RIVN Daily ETF (NASDAQ:RVNL) by 82.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,558 shares of the company’s stock after buying an additional 7,030 shares during the quarter. Optiver Holding B.V. owned approximately 5.56% of GraniteShares 2x Long RIVN Daily ETF worth $444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

GraniteShares 2x Long RIVN Daily ETF Trading Up 8.6%

RVNL stock traded up $1.89 during trading on Thursday, reaching $23.94. The stock had a trading volume of 97,105 shares, compared to its average volume of 68,622. The company’s 50 day moving average is $26.14 and its two-hundred day moving average is $28.64. GraniteShares 2x Long RIVN Daily ETF has a one year low of $19.25 and a one year high of $75.17.

GraniteShares 2x Long RIVN Daily ETF Company Profile

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.