GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Trading 6.6% Higher – Should You Buy?

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL)’s share price rose 6.6% during trading on Wednesday . The company traded as high as $72.82 and last traded at $72.66. Approximately 10,604,696 shares were traded during trading, a decline of 40% from the average daily volume of 17,728,336 shares. The stock had previously closed at $68.16.

GraniteShares 2x Long NVDA Daily ETF Trading Down 4.6 %

The business has a 50-day moving average of $74.55 and a 200 day moving average of $66.52.

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

Hedge funds and other institutional investors have recently made changes to their positions in the business. Private Ocean LLC bought a new stake in GraniteShares 2x Long NVDA Daily ETF during the second quarter valued at approximately $35,000. National Bank of Canada FI bought a new position in GraniteShares 2x Long NVDA Daily ETF in the second quarter worth approximately $42,000. Hollencrest Capital Management boosted its stake in shares of GraniteShares 2x Long NVDA Daily ETF by 5,677.8% during the 2nd quarter. Hollencrest Capital Management now owns 1,040 shares of the company’s stock worth $72,000 after acquiring an additional 1,022 shares during the last quarter. Gilliland Jeter Wealth Management LLC bought a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the 2nd quarter valued at $72,000. Finally, Centaurus Financial Inc. purchased a new stake in shares of GraniteShares 2x Long NVDA Daily ETF in the 3rd quarter worth $134,000.

About GraniteShares 2x Long NVDA Daily ETF

The GraniteShares 1.5x Long NVDA Daily ETF (NVDL) is an exchange-traded fund that mostly invests in information technology equity. The fund provides 1.5x leveraged exposure, less fees and expenses, to the daily price movement for shares of NVIDIA Corporation stock. NVDL was launched on Dec 13, 2022 and is managed by GraniteShares.