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

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) shares gapped down before the market opened on Monday . The stock had previously closed at $41.18, but opened at $39.09. GraniteShares 2x Long NVDA Daily ETF shares last traded at $37.76, with a volume of 6,171,127 shares changing hands.

GraniteShares 2x Long NVDA Daily ETF Trading Down 11.3 %

The business’s fifty day moving average is $60.65 and its 200-day moving average is $65.08.

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

Several large investors have recently modified their holdings of the stock. IFP Advisors Inc bought a new position in shares of GraniteShares 2x Long NVDA Daily ETF during the 4th quarter worth $27,000. Tower Research Capital LLC TRC raised its position in shares of GraniteShares 2x Long NVDA Daily ETF by 26.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,088 shares of the company’s stock valued at $72,000 after purchasing an additional 229 shares during the period. Spire Wealth Management purchased a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the 4th quarter valued at approximately $78,000. CoreCap Advisors LLC boosted its holdings in GraniteShares 2x Long NVDA Daily ETF by 530.0% in the 4th quarter. CoreCap Advisors LLC now owns 1,575 shares of the company’s stock worth $105,000 after buying an additional 1,325 shares during the period. Finally, Centaurus Financial Inc. purchased a new position in GraniteShares 2x Long NVDA Daily ETF in the 3rd quarter valued at approximately $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.