GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Shares Gap Down – Here’s What Happened

Shares of GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) gapped down before the market opened on Monday . The stock had previously closed at $49.03, but opened at $44.72. GraniteShares 2x Long NVDA Daily ETF shares last traded at $45.66, with a volume of 13,790,260 shares.

GraniteShares 2x Long NVDA Daily ETF Stock Up 3.5 %

The stock’s fifty day moving average price is $68.10 and its two-hundred day moving average price is $65.32.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Diversify Advisory Services LLC bought a new position in shares of GraniteShares 2x Long NVDA Daily ETF during the third quarter valued at about $285,000. JPMorgan Chase & Co. boosted its position in shares of GraniteShares 2x Long NVDA Daily ETF by 8.0% during the third quarter. JPMorgan Chase & Co. now owns 78,492 shares of the company’s stock valued at $4,567,000 after purchasing an additional 5,839 shares in the last quarter. Strategic Blueprint LLC purchased a new stake in shares of GraniteShares 2x Long NVDA Daily ETF in the 3rd quarter worth about $351,000. Hollencrest Capital Management increased its stake 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 valued at $335,000 after purchasing an additional 4,715 shares in the last quarter. Finally, HighTower Advisors LLC purchased a new position in GraniteShares 2x Long NVDA Daily ETF during the third quarter valued at $210,000.

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.