GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Shares Down 6.2% – Time to Sell?

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) were down 6.2% during trading on Thursday . The stock traded as low as $49.20 and last traded at $49.07. Approximately 12,670,739 shares changed hands during trading, a decline of 47% from the average daily volume of 23,838,115 shares. The stock had previously closed at $52.29.

GraniteShares 2x Long NVDA Daily ETF Stock Performance

The business has a fifty day moving average of $69.11 and a two-hundred day moving average of $65.65.

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

Several hedge funds have recently bought and sold shares of the stock. Spire Wealth Management acquired a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the fourth quarter worth $78,000. Centaurus Financial Inc. bought a new stake in GraniteShares 2x Long NVDA Daily ETF in the 3rd quarter valued at about $134,000. Gilliland Jeter Wealth Management LLC increased its holdings in shares of GraniteShares 2x Long NVDA Daily ETF by 144.9% during the third quarter. Gilliland Jeter Wealth Management LLC now owns 2,535 shares of the company’s stock worth $148,000 after purchasing an additional 1,500 shares during the period. Safe Harbor Fiduciary LLC bought a new position in shares of GraniteShares 2x Long NVDA Daily ETF during the third quarter worth approximately $153,000. Finally, HighTower Advisors LLC acquired a new stake in shares of GraniteShares 2x Long NVDA Daily ETF in the third quarter valued at approximately $210,000.

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.