GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Shares Down 6.9% – Here’s Why

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) were down 6.9% on Monday . The company traded as low as $33.83 and last traded at $35.37. Approximately 6,090,062 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 21,127,122 shares. The stock had previously closed at $38.00.

GraniteShares 2x Long NVDA Daily ETF Price Performance

The company’s 50-day moving average is $52.65 and its 200-day moving average is $63.71.

Institutional Investors Weigh In On GraniteShares 2x Long NVDA Daily ETF

Several large investors have recently modified their holdings of NVDL. Oriental Harbor Investment Fund bought a new stake in GraniteShares 2x Long NVDA Daily ETF in the third quarter valued at $27,892,000. JPMorgan Chase & Co. lifted its holdings in GraniteShares 2x Long NVDA Daily ETF by 456.7% during the 4th quarter. JPMorgan Chase & Co. now owns 436,970 shares of the company’s stock valued at $29,010,000 after purchasing an additional 358,478 shares during the last quarter. Barclays PLC boosted its position in GraniteShares 2x Long NVDA Daily ETF by 50.4% in the third quarter. Barclays PLC now owns 142,652 shares of the company’s stock valued at $8,301,000 after buying an additional 47,800 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its stake in GraniteShares 2x Long NVDA Daily ETF by 1,006.7% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 128,102 shares of the company’s stock worth $8,505,000 after buying an additional 116,527 shares during the last quarter. Finally, TRUE Private Wealth Advisors boosted its holdings in shares of GraniteShares 2x Long NVDA Daily ETF by 1.3% in the 4th quarter. TRUE Private Wealth Advisors now owns 75,170 shares of the company’s stock worth $4,991,000 after acquiring an additional 982 shares in 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.