GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Sees Unusually-High Trading Volume – Still a Buy?

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) shares saw strong trading volume on Wednesday. 24,326,893 shares traded hands during trading, an increase of 15% from the average daily volume of 21,172,676 shares. The stock last traded at $20.8160 and had previously closed at $19.28.

GraniteShares 2x Long NVDA Daily ETF Trading Up 9.7%

The firm has a fifty day simple moving average of $33.47 and a 200 day simple moving average of $31.59.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Persium Advisors LLC bought a new position in GraniteShares 2x Long NVDA Daily ETF in the 3rd quarter worth $844,000. Corient Private Wealth LP bought a new stake in GraniteShares 2x Long NVDA Daily ETF during the second quarter valued at about $2,777,000. Group One Trading LLC bought a new stake in GraniteShares 2x Long NVDA Daily ETF during the first quarter valued at about $1,278,000. Renaissance Technologies LLC bought a new position in shares of GraniteShares 2x Long NVDA Daily ETF in the first quarter worth about $5,907,000. Finally, Vestor Capital LLC bought a new position in shares of GraniteShares 2x Long NVDA Daily ETF in the third quarter worth about $5,474,000.

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.