GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Stock Price Down 4.6% – Here’s Why

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL)’s share price fell 4.6% during trading on Wednesday . The company traded as low as $83.25 and last traded at $82.9340. 2,360,505 shares traded hands during trading, a decline of 72% from the average session volume of 8,576,372 shares. The stock had previously closed at $86.96.

GraniteShares 2x Long NVDA Daily ETF Stock Down 3.8%

The firm’s fifty day moving average price is $87.33 and its 200 day moving average price is $86.97.

Hedge Funds Weigh In On GraniteShares 2x Long NVDA Daily ETF

Several institutional investors have recently made changes to their positions in NVDL. APEIRON CAPITAL Ltd purchased a new stake in GraniteShares 2x Long NVDA Daily ETF during the third quarter worth $88,003,000. HUB Investment Partners LLC acquired a new stake in GraniteShares 2x Long NVDA Daily ETF in the third quarter valued at approximately $9,034,000. Stevens Capital Management LP purchased a new stake in shares of GraniteShares 2x Long NVDA Daily ETF in the third quarter valued at approximately $3,895,000. Client First Investment Management LLC purchased a new stake in shares of GraniteShares 2x Long NVDA Daily ETF in the second quarter valued at approximately $2,715,000. Finally, Hoey Investments Inc. raised its stake in shares of GraniteShares 2x Long NVDA Daily ETF by 2.5% during the 2nd quarter. Hoey Investments Inc. now owns 36,656 shares of the company’s stock worth $2,581,000 after buying an additional 905 shares during the period.

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.