GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Shares Down 3.7% – Should You Sell?

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) shares were down 3.7% during trading on Friday . The stock traded as low as $74.74 and last traded at $75.07. Approximately 8,844,991 shares were traded during trading, a decline of 46% from the average daily volume of 16,292,672 shares. The stock had previously closed at $77.96.

GraniteShares 2x Long NVDA Daily ETF Stock Performance

The firm’s 50-day simple moving average is $71.29 and its 200 day simple moving average is $66.26.

Institutional Trading of GraniteShares 2x Long NVDA Daily ETF

Hedge funds have recently made changes to their positions in the business. Weaver Consulting Group grew its stake in GraniteShares 2x Long NVDA Daily ETF by 4.7% in the 3rd quarter. Weaver Consulting Group now owns 4,472 shares of the company’s stock valued at $260,000 after buying an additional 200 shares during the last quarter. SeaCrest Wealth Management LLC grew its position in shares of GraniteShares 2x Long NVDA Daily ETF by 3.6% in the third quarter. SeaCrest Wealth Management LLC now owns 6,339 shares of the company’s stock valued at $369,000 after purchasing an additional 221 shares during the last quarter. Brookstone Capital Management grew its position in shares of GraniteShares 2x Long NVDA Daily ETF by 1.0% in the fourth quarter. Brookstone Capital Management now owns 38,231 shares of the company’s stock valued at $2,538,000 after purchasing an additional 373 shares during the last quarter. AlphaMark Advisors LLC increased its stake in shares of GraniteShares 2x Long NVDA Daily ETF by 11.4% during the third quarter. AlphaMark Advisors LLC now owns 6,774 shares of the company’s stock worth $394,000 after purchasing an additional 694 shares during the period. Finally, Flagstar Advisors Inc. lifted its holdings in GraniteShares 2x Long NVDA Daily ETF by 24.3% during the 3rd quarter. Flagstar Advisors Inc. now owns 4,294 shares of the company’s stock worth $250,000 after purchasing an additional 840 shares during the last quarter.

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.