GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Stock Price Down 6.1% – What’s Next?

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) shares were down 6.1% during mid-day trading on Wednesday . The company traded as low as $72.22 and last traded at $72.32. Approximately 2,006,961 shares changed hands during trading, a decline of 89% from the average daily volume of 17,924,090 shares. The stock had previously closed at $77.03.

GraniteShares 2x Long NVDA Daily ETF Trading Down 2.5 %

The stock has a fifty day simple moving average of $62.19 and a 200-day simple moving average of $58.60.

Hedge Funds Weigh In On GraniteShares 2x Long NVDA Daily ETF

Several institutional investors have recently modified their holdings of the business. Jane Street Group LLC bought a new position in shares of GraniteShares 2x Long NVDA Daily ETF during the 1st quarter valued at about $10,343,000. Nisa Investment Advisors LLC bought a new position in shares of GraniteShares 2x Long NVDA Daily ETF during the 2nd quarter valued at about $7,518,000. Brookstone Capital Management lifted its holdings in shares of GraniteShares 2x Long NVDA Daily ETF by 75.4% during the 3rd quarter. Brookstone Capital Management now owns 37,858 shares of the company’s stock valued at $2,203,000 after purchasing an additional 16,269 shares in the last quarter. Creative Planning lifted its holdings in shares of GraniteShares 2x Long NVDA Daily ETF by 299.8% during the 3rd quarter. Creative Planning now owns 18,038 shares of the company’s stock valued at $1,050,000 after purchasing an additional 13,526 shares in the last quarter. Finally, SeaCrest Wealth Management LLC bought a new position in shares of GraniteShares 2x Long NVDA Daily ETF during the 1st quarter valued at about $695,000.

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.