GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Stock Price Up 3.7% – Still a Buy?

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL)’s stock price rose 3.7% during trading on Tuesday . The stock traded as high as $78.26 and last traded at $77.46. Approximately 3,769,502 shares traded hands during trading, a decline of 79% from the average daily volume of 17,776,857 shares. The stock had previously closed at $74.68.

GraniteShares 2x Long NVDA Daily ETF Trading Down 1.6 %

The firm’s 50-day moving average is $68.60 and its 200 day moving average is $63.15.

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

Several hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC acquired a new stake in GraniteShares 2x Long NVDA Daily ETF during the 1st quarter worth approximately $10,343,000. Barclays PLC lifted its position in shares of GraniteShares 2x Long NVDA Daily ETF by 50.4% in the 3rd quarter. Barclays PLC now owns 142,652 shares of the company’s stock worth $8,301,000 after purchasing an additional 47,800 shares during the period. Nisa Investment Advisors LLC acquired a new position in shares of GraniteShares 2x Long NVDA Daily ETF in the 2nd quarter worth approximately $7,518,000. TRUE Private Wealth Advisors lifted its position in shares of GraniteShares 2x Long NVDA Daily ETF by 3.5% in the 3rd quarter. TRUE Private Wealth Advisors now owns 74,188 shares of the company’s stock worth $4,317,000 after purchasing an additional 2,531 shares during the period. Finally, Brookstone Capital Management lifted its position in shares of GraniteShares 2x Long NVDA Daily ETF by 75.4% in the 3rd quarter. Brookstone Capital Management now owns 37,858 shares of the company’s stock worth $2,203,000 after purchasing an additional 16,269 shares during the period.

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.