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

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL)’s share price gapped down before the market opened on Monday . The stock had previously closed at $76.68, but opened at $73.96. GraniteShares 2x Long NVDA Daily ETF shares last traded at $71.60, with a volume of 5,864,609 shares.

GraniteShares 2x Long NVDA Daily ETF Stock Performance

The stock has a 50 day simple moving average of $67.32 and a 200 day simple moving average of $62.57.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NVDL. Jane Street Group LLC acquired a new position in shares of GraniteShares 2x Long NVDA Daily ETF in the 1st quarter valued at approximately $10,343,000. Sequoia Financial Advisors LLC bought a new position in shares of GraniteShares 2x Long NVDA Daily ETF in the second quarter worth about $209,000. Silver Lake Advisory LLC acquired a new stake in shares of GraniteShares 2x Long NVDA Daily ETF in the 2nd quarter valued at approximately $264,000. Brookstone Capital Management acquired a new position in GraniteShares 2x Long NVDA Daily ETF during the 2nd quarter worth approximately $1,502,000. Finally, Nisa Investment Advisors LLC bought a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the second quarter worth $7,518,000.

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.