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

Shares of GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) were up 6.9% on Monday . The company traded as high as $82.08 and last traded at $81.98. Approximately 6,024,409 shares changed hands during trading, a decline of 52% from the average daily volume of 12,620,218 shares. The stock had previously closed at $76.68.

GraniteShares 2x Long NVDA Daily ETF Trading Up 9.5 %

The firm has a 50-day moving average of $73.40 and a two-hundred day moving average of $66.54.

Institutional Trading of GraniteShares 2x Long NVDA Daily ETF

A number of hedge funds have recently made changes to their positions in NVDL. National Bank of Canada FI acquired a new position in GraniteShares 2x Long NVDA Daily ETF in the 2nd quarter valued at approximately $42,000. XTX Topco Ltd acquired a new position in shares of GraniteShares 2x Long NVDA Daily ETF in the second quarter worth $226,000. Hollencrest Capital Management increased its stake in shares of 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 worth $72,000 after acquiring an additional 1,022 shares during the last quarter. Silver Lake Advisory LLC purchased a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the second quarter worth $264,000. Finally, Creative Planning acquired a new stake in GraniteShares 2x Long NVDA Daily ETF during the second quarter valued at $314,000.

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.