GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Shares Gap Down – What’s Next?

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $70.62, but opened at $68.63. GraniteShares 2x Long NVDA Daily ETF shares last traded at $66.20, with a volume of 8,786,908 shares traded.

GraniteShares 2x Long NVDA Daily ETF Price Performance

The stock’s 50 day simple moving average is $70.66 and its two-hundred day simple moving average is $64.42.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in NVDL. Jane Street Group LLC purchased a new position in GraniteShares 2x Long NVDA Daily ETF in the first quarter worth about $10,343,000. Sequoia Financial Advisors LLC bought a new stake in GraniteShares 2x Long NVDA Daily ETF in the 2nd quarter valued at $209,000. Silver Lake Advisory LLC purchased a new position in shares of GraniteShares 2x Long NVDA Daily ETF in the second quarter valued at $264,000. Brookstone Capital Management purchased a new stake in GraniteShares 2x Long NVDA Daily ETF during the second quarter valued at approximately $1,502,000. Finally, Nisa Investment Advisors LLC bought a new position in GraniteShares 2x Long NVDA Daily ETF during the 2nd quarter valued at about $7,518,000.

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.