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

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) shares gapped up before the market opened on Friday . The stock had previously closed at $70.30, but opened at $71.98. GraniteShares 2x Long NVDA Daily ETF shares last traded at $75.20, with a volume of 3,984,312 shares traded.

GraniteShares 2x Long NVDA Daily ETF Stock Up 7.3 %

The firm’s 50-day moving average price is $73.41 and its 200-day moving average price is $66.69.

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

Several institutional investors and hedge funds have recently modified their holdings of NVDL. National Bank of Canada FI acquired a new position in GraniteShares 2x Long NVDA Daily ETF in the 2nd quarter worth $42,000. Hollencrest Capital Management increased 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. Centaurus Financial Inc. acquired a new position in shares of GraniteShares 2x Long NVDA Daily ETF in the third quarter worth about $134,000. Gilliland Jeter Wealth Management LLC lifted its stake in shares of GraniteShares 2x Long NVDA Daily ETF by 144.9% in the third quarter. Gilliland Jeter Wealth Management LLC now owns 2,535 shares of the company’s stock worth $148,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Safe Harbor Fiduciary LLC purchased a new position in GraniteShares 2x Long NVDA Daily ETF in the third quarter valued at about $153,000.

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.