GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Shares Gap Down – Time to Sell?

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL)’s share price gapped down prior to trading 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 Price Performance

The company’s 50-day simple moving average is $67.32 and its 200-day simple moving average is $62.57.

Institutional Trading of GraniteShares 2x Long NVDA Daily ETF

Several institutional investors have recently made changes to their positions in NVDL. Private Ocean LLC acquired a new stake in GraniteShares 2x Long NVDA Daily ETF in the 2nd quarter worth approximately $35,000. National Bank of Canada FI acquired a new stake in GraniteShares 2x Long NVDA Daily ETF in the 2nd quarter valued at about $42,000. Hollencrest Capital Management raised its holdings in GraniteShares 2x Long NVDA Daily ETF by 5,677.8% during the 2nd quarter. Hollencrest Capital Management now owns 1,040 shares of the company’s stock worth $72,000 after purchasing an additional 1,022 shares during the last quarter. Gilliland Jeter Wealth Management LLC bought a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the 2nd quarter valued at $72,000. Finally, Centaurus Financial Inc. bought a new position in shares of GraniteShares 2x Long NVDA Daily ETF during the third quarter worth $134,000.

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.