GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Shares Gap Up – Still a Buy?

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $47.85, but opened at $50.32. GraniteShares 2x Long NVDA Daily ETF shares last traded at $50.66, with a volume of 7,604,987 shares traded.

GraniteShares 2x Long NVDA Daily ETF Price Performance

The business’s 50-day moving average price is $67.32 and its 200 day moving average price is $65.13.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of NVDL. Weaver Consulting Group boosted its holdings in shares of 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 worth $260,000 after purchasing an additional 200 shares in the last quarter. SeaCrest Wealth Management LLC grew its position in GraniteShares 2x Long NVDA Daily ETF by 3.6% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 6,339 shares of the company’s stock worth $369,000 after acquiring an additional 221 shares during the last quarter. Brookstone Capital Management increased its stake in GraniteShares 2x Long NVDA Daily ETF by 1.0% in the 4th quarter. Brookstone Capital Management now owns 38,231 shares of the company’s stock worth $2,538,000 after purchasing an additional 373 shares during the period. IFP Advisors Inc bought a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the 4th quarter valued at about $27,000. Finally, AlphaMark Advisors LLC boosted its position in GraniteShares 2x Long NVDA Daily ETF by 11.4% during the 3rd quarter. AlphaMark Advisors LLC now owns 6,774 shares of the company’s stock valued at $394,000 after acquiring an additional 694 shares in 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.