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

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $71.58, but opened at $75.52. GraniteShares 2x Long NVDA Daily ETF shares last traded at $77.45, with a volume of 5,624,740 shares.

GraniteShares 2x Long NVDA Daily ETF Stock Up 8.4 %

The stock has a fifty day moving average of $71.52 and a 200-day moving average of $66.19.

Institutional Trading of GraniteShares 2x Long NVDA Daily ETF

A number of hedge funds have recently added to or reduced their stakes in the stock. XTX Topco Ltd purchased a new position in GraniteShares 2x Long NVDA Daily ETF in the 2nd quarter valued at $226,000. Silver Lake Advisory LLC purchased a new stake in shares of GraniteShares 2x Long NVDA Daily ETF in the second quarter valued at about $264,000. Creative Planning acquired a new position in shares of GraniteShares 2x Long NVDA Daily ETF during the second quarter worth about $314,000. Heritage Oak Wealth Advisors LLC purchased a new stake in GraniteShares 2x Long NVDA Daily ETF in the 2nd quarter valued at approximately $522,000. Finally, Brookstone Capital Management raised its stake in shares of GraniteShares 2x Long NVDA Daily ETF by 75.4% during the 3rd quarter. Brookstone Capital Management now owns 37,858 shares of the company’s stock worth $2,203,000 after buying an additional 16,269 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.