GraniteShares ETF Sees Significant Outflow Amid Market Fluctuations

Today, we observed notable changes in shares outstanding among exchange-traded funds (ETFs), particularly with the GraniteShares 2x Long NVDA Daily ETF (Symbol: NVDL). The ETF experienced approximately $294.5 million in outflows, marking a 7.6% decrease in shares outstanding, from 101,170,006 to 93,490,006 over the past week.

Price Performance Compared to Moving Average

The chart below illustrates NVDL’s price performance over the past year alongside its 200-day moving average:

NVDL’s 52-week range highlights a low of $23.1231 per share and a high of $91.70. The most recent trading price was recorded at $37.47. Analyzing the current share price against the 200-day moving average can provide insight into market trends.

Understanding ETF Trading Mechanisms

ETFs operate similarly to stocks, with investors buying and selling “units” instead of shares. These units can be traded back and forth, but they can also be created or destroyed depending on market demand. Monitoring changes in shares outstanding helps identify ETFs with significant inflows or outflows. When new units are created, the underlying assets of the ETF are purchased, whereas when units are destroyed, the assets are sold. This dynamic can affect the individual holdings within the ETF.

Click here to explore which 9 other ETFs experienced notable outflows.

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The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.