GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Trading Down 2.4% – Here’s Why

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL)’s stock price traded down 2.4% during mid-day trading on Thursday . The company traded as low as $70.07 and last traded at $70.97. 4,784,283 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 17,743,818 shares. The stock had previously closed at $72.69.

GraniteShares 2x Long NVDA Daily ETF Price Performance

The company has a 50-day moving average price of $74.28 and a 200 day moving average price of $66.85.

Institutional Investors Weigh In On GraniteShares 2x Long NVDA Daily ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Private Ocean LLC purchased a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the second quarter worth about $35,000. National Bank of Canada FI purchased a new stake in GraniteShares 2x Long NVDA Daily ETF during the 2nd quarter worth approximately $42,000. XTX Topco Ltd purchased a new position in shares of GraniteShares 2x Long NVDA Daily ETF in the second quarter worth $226,000. Hollencrest Capital Management lifted its stake in shares of GraniteShares 2x Long NVDA Daily ETF by 5,677.8% during the second quarter. Hollencrest Capital Management now owns 1,040 shares of the company’s stock worth $72,000 after buying an additional 1,022 shares during the period. Finally, Silver Lake Advisory LLC purchased a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the second quarter valued at $264,000.

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.