GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Stock Price Down 5.6% – Here’s Why

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL)’s share price traded down 5.6% during mid-day trading on Friday . The stock traded as low as $76.75 and last traded at $76.90. 6,769,858 shares changed hands during trading, a decline of 62% from the average session volume of 17,902,043 shares. The stock had previously closed at $81.42.

GraniteShares 2x Long NVDA Daily ETF Stock Down 6.5 %

The business’s 50 day simple moving average is $70.00 and its 200 day simple moving average is $63.64.

Institutional Trading of GraniteShares 2x Long NVDA Daily ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Private Ocean LLC purchased a new position in shares of GraniteShares 2x Long NVDA Daily ETF in the 2nd quarter valued at approximately $35,000. National Bank of Canada FI purchased a new position in GraniteShares 2x Long NVDA Daily ETF in the 2nd quarter valued at $42,000. Gilliland Jeter Wealth Management LLC acquired a new position in GraniteShares 2x Long NVDA Daily ETF in the 2nd quarter valued at $72,000. Hollencrest Capital Management raised its position in 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 worth $72,000 after buying an additional 1,022 shares during the last quarter. Finally, Centaurus Financial Inc. acquired a new stake in shares of GraniteShares 2x Long NVDA Daily ETF in the 3rd quarter worth $134,000.

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.