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

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) gapped up prior to trading on Thursday . The stock had previously closed at $80.58, but opened at $84.32. GraniteShares 2x Long NVDA Daily ETF shares last traded at $83.08, with a volume of 8,023,046 shares traded.

GraniteShares 2x Long NVDA Daily ETF Price Performance

The stock’s 50 day moving average price is $69.61 and its 200-day moving average price is $63.40.

Institutional Trading of GraniteShares 2x Long NVDA Daily ETF

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Weaver Consulting Group increased its stake in shares of GraniteShares 2x Long NVDA Daily ETF by 4.7% in the third quarter. Weaver Consulting Group now owns 4,472 shares of the company’s stock worth $260,000 after purchasing an additional 200 shares in the last quarter. SeaCrest Wealth Management LLC increased its stake in shares of GraniteShares 2x Long NVDA Daily ETF by 3.6% in the third quarter. SeaCrest Wealth Management LLC now owns 6,339 shares of the company’s stock worth $369,000 after purchasing an additional 221 shares in the last quarter. Private Ocean LLC purchased a new stake in shares of GraniteShares 2x Long NVDA Daily ETF in the second quarter worth $35,000. National Bank of Canada FI purchased a new stake in shares of GraniteShares 2x Long NVDA Daily ETF in the second quarter worth $42,000. Finally, AlphaMark Advisors LLC boosted its position in shares of GraniteShares 2x Long NVDA Daily ETF by 11.4% during the third quarter. AlphaMark Advisors LLC now owns 6,774 shares of the company’s stock worth $394,000 after acquiring an additional 694 shares during the last quarter.

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.