GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Shares Up 4% – Should You Buy?

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL)’s stock price rose 4% during trading on Monday . The stock traded as high as $76.80 and last traded at $76.78. Approximately 3,798,002 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 17,922,232 shares. The stock had previously closed at $73.86.

GraniteShares 2x Long NVDA Daily ETF Stock Down 0.2 %

The stock has a fifty day moving average of $61.03 and a 200 day moving average of $57.28.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in NVDL. Private Ocean LLC bought a new position in shares of GraniteShares 2x Long NVDA Daily ETF during the 2nd quarter valued at approximately $35,000. National Bank of Canada FI purchased a new stake in shares of GraniteShares 2x Long NVDA Daily ETF in the second quarter worth $42,000. NBC Securities Inc. bought a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the 1st quarter valued at $59,000. 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, Hollencrest Capital Management lifted its stake in shares of 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 valued at $72,000 after buying an additional 1,022 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.