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 Thursday . The stock had previously closed at $55.58, but opened at $57.51. GraniteShares 2x Long NVDA Daily ETF shares last traded at $59.51, with a volume of 5,064,280 shares changing hands.

GraniteShares 2x Long NVDA Daily ETF Stock Performance

The company’s 50-day moving average is $55.60 and its 200-day moving average is $54.55.

Institutional Trading of GraniteShares 2x Long NVDA Daily ETF

Hedge funds have recently made changes to their positions in the company. Private Ocean LLC acquired a new position in GraniteShares 2x Long NVDA Daily ETF in the second quarter valued at approximately $35,000. National Bank of Canada FI acquired a new position in shares of GraniteShares 2x Long NVDA Daily ETF in the 2nd quarter valued at $42,000. Hollencrest Capital Management grew its holdings in shares of GraniteShares 2x Long NVDA Daily ETF by 5,677.8% during the 2nd quarter. Hollencrest Capital Management now owns 1,040 shares of the company’s stock worth $72,000 after purchasing an additional 1,022 shares during the period. Gilliland Jeter Wealth Management LLC acquired a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the 2nd quarter worth about $72,000. Finally, NBC Securities Inc. acquired a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the 1st quarter worth about $59,000.

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.