GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Shares Down 7.5% – Should You Sell?

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL)’s stock price fell 7.5% during trading on Friday . The stock traded as low as $75.42 and last traded at $75.97. 9,752,252 shares traded hands during trading, a decline of 45% from the average session volume of 17,811,385 shares. The stock had previously closed at $82.11.

GraniteShares 2x Long NVDA Daily ETF Stock Performance

The company’s 50 day moving average is $67.32 and its 200 day moving average is $62.18.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NVDL. Private Ocean LLC bought a new position in GraniteShares 2x Long NVDA Daily ETF during the second quarter valued at about $35,000. National Bank of Canada FI bought a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the second quarter valued at approximately $42,000. Gilliland Jeter Wealth Management LLC acquired a new position in shares of GraniteShares 2x Long NVDA Daily ETF in the second quarter valued at $72,000. Hollencrest Capital Management lifted its position in GraniteShares 2x Long NVDA Daily ETF by 5,677.8% in the second quarter. Hollencrest Capital Management now owns 1,040 shares of the company’s stock worth $72,000 after purchasing an additional 1,022 shares during the period. Finally, Centaurus Financial Inc. acquired a new stake in GraniteShares 2x Long NVDA Daily ETF during the third quarter worth $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.