GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Trading 3.9% Higher – Here’s Why

Shares of GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) were up 3.9% during trading on Tuesday . The company traded as high as $83.80 and last traded at $83.74. Approximately 2,286,942 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 17,828,729 shares. The stock had previously closed at $80.58.

GraniteShares 2x Long NVDA Daily ETF Stock Performance

The firm has a fifty day moving average price of $64.48 and a 200 day moving average price of $61.30.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Diversify Advisory Services LLC purchased a new position in GraniteShares 2x Long NVDA Daily ETF in the third quarter valued at about $285,000. Brookstone Capital Management purchased a new position in GraniteShares 2x Long NVDA Daily ETF during the second quarter valued at approximately $1,502,000. Strategic Blueprint LLC purchased a new stake in GraniteShares 2x Long NVDA Daily ETF during the third quarter valued at $351,000. Hollencrest Capital Management lifted its position in shares of GraniteShares 2x Long NVDA Daily ETF by 453.4% during the third quarter. Hollencrest Capital Management now owns 5,755 shares of the company’s stock worth $335,000 after purchasing an additional 4,715 shares during the last quarter. Finally, Creative Planning purchased a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the second quarter valued at about $314,000.

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.