GraniteShares 2x Long RIVN Daily ETF (NASDAQ:RVNL) Stock Price Down 6.9% – Time to Sell?

GraniteShares 2x Long RIVN Daily ETF (NASDAQ:RVNL)’s share price dropped 6.9% during trading on Friday . The company traded as low as $31.20 and last traded at $31.33. 96,076 shares were traded during mid-day trading, an increase of 53% from the average session volume of 62,611 shares. The stock had previously closed at $33.66.

GraniteShares 2x Long RIVN Daily ETF Trading Down 6.9%

The company has a fifty day moving average price of $28.78 and a 200 day moving average price of $34.35.

Institutional Inflows and Outflows

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

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.