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

Shares of GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) gapped up prior to trading on Wednesday . The stock had previously closed at $42.68, but opened at $43.92. GraniteShares 2x Long NVDA Daily ETF shares last traded at $43.82, with a volume of 3,962,899 shares trading hands.

GraniteShares 2x Long NVDA Daily ETF Stock Up 1.7 %

The business has a 50 day simple moving average of $55.45 and a 200-day simple moving average of $63.74.

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

A number of hedge funds have recently added to or reduced their stakes in the stock. Weaver Consulting Group lifted its stake in GraniteShares 2x Long NVDA Daily ETF by 4.7% in the third quarter. Weaver Consulting Group now owns 4,472 shares of the company’s stock valued at $260,000 after buying an additional 200 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in 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 buying an additional 229 shares during the last quarter. Brookstone Capital Management lifted its stake in GraniteShares 2x Long NVDA Daily ETF by 1.0% in the fourth quarter. Brookstone Capital Management now owns 38,231 shares of the company’s stock valued at $2,538,000 after buying an additional 373 shares during the last quarter. IFP Advisors Inc bought a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the fourth quarter valued at about $27,000. Finally, Flagstar Advisors Inc. raised its stake in shares of GraniteShares 2x Long NVDA Daily ETF by 24.3% during the third quarter. Flagstar Advisors Inc. now owns 4,294 shares of the company’s stock valued at $250,000 after purchasing an additional 840 shares in the last quarter.

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.