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

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) shares gapped up prior to trading 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 Performance

The business has a 50 day moving average of $73.40 and a two-hundred day moving average of $66.67.

Institutional Trading of GraniteShares 2x Long NVDA Daily ETF

Several hedge funds have recently modified their holdings of the company. National Bank of Canada FI purchased a new position in shares of GraniteShares 2x Long NVDA Daily ETF in the 2nd quarter worth approximately $42,000. Hollencrest Capital Management boosted its stake in GraniteShares 2x Long NVDA Daily ETF by 5,677.8% in the second quarter. Hollencrest Capital Management now owns 1,040 shares of the company’s stock valued at $72,000 after acquiring an additional 1,022 shares in the last quarter. Centaurus Financial Inc. purchased a new position in GraniteShares 2x Long NVDA Daily ETF in the third quarter worth $134,000. Gilliland Jeter Wealth Management LLC increased its position in shares of GraniteShares 2x Long NVDA Daily ETF by 144.9% during the third quarter. Gilliland Jeter Wealth Management LLC now owns 2,535 shares of the company’s stock worth $148,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Safe Harbor Fiduciary LLC purchased a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the 3rd quarter valued at $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.