GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Trading Down 7.5% – Here’s Why

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL)’s share price dropped 7.5% during trading on Friday . The stock traded as low as $75.42 and last traded at $75.97. Approximately 9,752,252 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 17,811,385 shares. The stock had previously closed at $82.11.

GraniteShares 2x Long NVDA Daily ETF Stock Down 9.0 %

The stock has a fifty day moving average price of $66.64 and a two-hundred day moving average price of $61.91.

Institutional Trading of GraniteShares 2x Long NVDA Daily ETF

Institutional investors and hedge funds have recently made changes to their positions in the company. Jane Street Group LLC purchased a new position in shares of GraniteShares 2x Long NVDA Daily ETF in the 1st quarter worth approximately $10,343,000. Nisa Investment Advisors LLC purchased a new position in GraniteShares 2x Long NVDA Daily ETF during the 2nd quarter valued at about $7,518,000. TRUE Private Wealth Advisors increased its position in shares of GraniteShares 2x Long NVDA Daily ETF by 3.5% during the third quarter. TRUE Private Wealth Advisors now owns 74,188 shares of the company’s stock valued at $4,317,000 after buying an additional 2,531 shares during the period. Brookstone Capital Management grew its stake in GraniteShares 2x Long NVDA Daily ETF by 75.4% during the third quarter. Brookstone Capital Management now owns 37,858 shares of the company’s stock valued at $2,203,000 after acquiring an additional 16,269 shares in the last quarter. Finally, Creative Planning increased its holdings in GraniteShares 2x Long NVDA Daily ETF by 299.8% during the 3rd quarter. Creative Planning now owns 18,038 shares of the company’s stock worth $1,050,000 after acquiring an additional 13,526 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.