GraniteShares 2x Long MRVL Daily ETF is trading 9.4% up today as underlying Marvell Technology (MRVL) shares rebound alongside the broader tech sector and AI-related equities.
- Traders are repositioning portfolios ahead of the June 17 FOMC decision, which has improved sentiment toward rate-sensitive growth stocks and the semiconductor space.
- Given the ETF's 2x leveraged exposure to MRVL, the moderate recovery in Marvell shares is translating into an outsized upside move following yesterday's steep decline.