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

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) shares gapped up prior to trading on Thursday . The stock had previously closed at $80.58, but opened at $84.32. GraniteShares 2x Long NVDA Daily ETF shares last traded at $83.08, with a volume of 8,023,046 shares changing hands.

GraniteShares 2x Long NVDA Daily ETF Stock Down 3.6 %

The stock has a fifty day simple moving average of $69.12 and a 200-day simple moving average of $63.27.

Institutional Trading of GraniteShares 2x Long NVDA Daily ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Private Ocean LLC acquired a new stake in GraniteShares 2x Long NVDA Daily ETF in the 2nd quarter valued at approximately $35,000. National Bank of Canada FI acquired a new stake in GraniteShares 2x Long NVDA Daily ETF in the 2nd quarter valued at $42,000. Gilliland Jeter Wealth Management LLC bought a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the second quarter worth $72,000. Hollencrest Capital Management raised its position in shares of GraniteShares 2x Long NVDA Daily ETF by 5,677.8% during the second quarter. Hollencrest Capital Management now owns 1,040 shares of the company’s stock worth $72,000 after acquiring an additional 1,022 shares during the last quarter. Finally, Centaurus Financial Inc. bought a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the third quarter worth $134,000.

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.