GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Trading 4.3% Higher – Time to Buy?

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL)’s stock price traded up 4.3% during mid-day trading on Thursday . The company traded as high as $64.74 and last traded at $64.35. 8,762,060 shares changed hands during trading, a decline of 51% from the average session volume of 17,761,801 shares. The stock had previously closed at $61.69.

GraniteShares 2x Long NVDA Daily ETF Price Performance

The stock’s 50-day simple moving average is $74.42 and its two-hundred day simple moving average is $66.74.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Private Ocean LLC purchased a new position in GraniteShares 2x Long NVDA Daily ETF in the second quarter worth about $35,000. National Bank of Canada FI purchased a new stake in GraniteShares 2x Long NVDA Daily ETF during the 2nd quarter valued at $42,000. Gilliland Jeter Wealth Management LLC bought a new stake in GraniteShares 2x Long NVDA Daily ETF in the second quarter worth $72,000. Hollencrest Capital Management boosted its stake in GraniteShares 2x Long NVDA Daily ETF by 5,677.8% during the second 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 period. Finally, Centaurus Financial Inc. purchased a new stake in shares of GraniteShares 2x Long NVDA Daily ETF in the third quarter valued at $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.