GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Stock Price Down 3.8% – What’s Next?

Shares of GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) dropped 3.8% during mid-day trading on Monday . The stock traded as low as $45.62 and last traded at $45.48. Approximately 11,624,800 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 21,013,621 shares. The stock had previously closed at $47.29.

GraniteShares 2x Long NVDA Daily ETF Stock Down 6.6 %

The company has a fifty day moving average price of $56.53 and a 200-day moving average price of $64.02.

Hedge Funds Weigh In On GraniteShares 2x Long NVDA Daily ETF

Large investors have recently bought and sold shares of the business. Oriental Harbor Investment Fund purchased a new position in GraniteShares 2x Long NVDA Daily ETF during the third quarter worth approximately $27,892,000. JPMorgan Chase & Co. boosted its position in GraniteShares 2x Long NVDA Daily ETF by 456.7% during the fourth quarter. JPMorgan Chase & Co. now owns 436,970 shares of the company’s stock worth $29,010,000 after purchasing an additional 358,478 shares in the last quarter. Barclays PLC boosted its position in GraniteShares 2x Long NVDA Daily ETF by 50.4% during the third quarter. Barclays PLC now owns 142,652 shares of the company’s stock worth $8,301,000 after purchasing an additional 47,800 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its position in GraniteShares 2x Long NVDA Daily ETF by 1,006.7% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 128,102 shares of the company’s stock worth $8,505,000 after purchasing an additional 116,527 shares in the last quarter. Finally, TRUE Private Wealth Advisors boosted its position in GraniteShares 2x Long NVDA Daily ETF by 1.3% during the fourth quarter. TRUE Private Wealth Advisors now owns 75,170 shares of the company’s stock worth $4,991,000 after purchasing an additional 982 shares in the last quarter.

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.