GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Shares Gap Down – Here’s Why

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) shares gapped down before the market opened on Wednesday . The stock had previously closed at $46.30, but opened at $44.80. GraniteShares 2x Long NVDA Daily ETF shares last traded at $41.95, with a volume of 7,198,415 shares.

GraniteShares 2x Long NVDA Daily ETF Stock Performance

The stock has a fifty day moving average price of $53.26 and a 200 day moving average price of $63.58.

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

A number of institutional investors have recently modified their holdings of the company. 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. Tower Research Capital LLC TRC grew its position in shares of GraniteShares 2x Long NVDA Daily ETF by 26.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,088 shares of the company’s stock valued at $72,000 after purchasing an additional 229 shares during the last quarter. Brookstone Capital Management increased its stake 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 worth $2,538,000 after purchasing an additional 373 shares during the period. IFP Advisors Inc acquired a new position in shares of GraniteShares 2x Long NVDA Daily ETF during the 4th quarter worth about $27,000. Finally, TRUE Private Wealth Advisors boosted its stake in GraniteShares 2x Long NVDA Daily ETF by 1.3% during the 4th quarter. TRUE Private Wealth Advisors now owns 75,170 shares of the company’s stock valued at $4,991,000 after purchasing an additional 982 shares during the period.

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.