GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Shares Down 3% – Here’s Why

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) shares fell 3% during trading on Monday . The stock traded as low as $64.61 and last traded at $65.27. 8,561,699 shares changed hands during trading, a decline of 16% from the average session volume of 10,228,022 shares. The stock had previously closed at $67.26.

GraniteShares 2x Long NVDA Daily ETF Price Performance

The stock has a 50-day moving average price of $81.86 and a two-hundred day moving average price of $86.65.

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

Large investors have recently modified their holdings of the business. Parallel Advisors LLC increased its holdings in shares of GraniteShares 2x Long NVDA Daily ETF by 104.3% during the fourth quarter. Parallel Advisors LLC now owns 613 shares of the company’s stock valued at $54,000 after acquiring an additional 313 shares in the last quarter. Chung Wu Investment Group LLC boosted its stake in GraniteShares 2x Long NVDA Daily ETF by 350.0% in the 3rd quarter. Chung Wu Investment Group LLC now owns 900 shares of the company’s stock worth $84,000 after purchasing an additional 700 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in GraniteShares 2x Long NVDA Daily ETF in the 3rd quarter worth approximately $88,000. CWM LLC purchased a new stake in GraniteShares 2x Long NVDA Daily ETF during the 3rd quarter worth approximately $94,000. Finally, Spire Wealth Management grew its position in GraniteShares 2x Long NVDA Daily ETF by 3,483.3% during the 3rd quarter. Spire Wealth Management now owns 1,075 shares of the company’s stock worth $101,000 after purchasing an additional 1,045 shares during 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.