GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Stock Price Down 7.2% – Time to Sell?

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL)’s share price fell 7.2% during trading on Thursday . The stock traded as low as $41.04 and last traded at $41.67. 11,719,619 shares were traded during mid-day trading, a decline of 55% from the average session volume of 25,894,738 shares. The stock had previously closed at $44.89.

GraniteShares 2x Long NVDA Daily ETF Stock Up 3.7 %

The firm’s 50-day moving average is $60.65 and its 200 day moving average is $65.12.

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

Several institutional investors and hedge funds have recently made changes to their positions in the business. Oriental Harbor Investment Fund acquired a new position in GraniteShares 2x Long NVDA Daily ETF in the 3rd quarter valued at about $27,892,000. JPMorgan Chase & Co. raised its stake in GraniteShares 2x Long NVDA Daily ETF by 456.7% in the 4th quarter. JPMorgan Chase & Co. now owns 436,970 shares of the company’s stock valued at $29,010,000 after purchasing an additional 358,478 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its stake in GraniteShares 2x Long NVDA Daily ETF by 1,006.7% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 128,102 shares of the company’s stock valued at $8,505,000 after purchasing an additional 116,527 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in GraniteShares 2x Long NVDA Daily ETF in the 4th quarter valued at about $3,307,000. Finally, Barclays PLC raised its stake in GraniteShares 2x Long NVDA Daily ETF by 50.4% in the 3rd quarter. Barclays PLC now owns 142,652 shares of the company’s stock valued at $8,301,000 after purchasing an additional 47,800 shares during the last quarter.

GraniteShares 2x Long NVDA Daily ETF Company Profile

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.