GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Shares Down 8% – Should You Sell?

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) shares dropped 8% during trading on Thursday . The stock traded as low as $52.17 and last traded at $53.01. Approximately 28,404,381 shares traded hands during mid-day trading, an increase of 14% from the average daily volume of 24,839,510 shares. The stock had previously closed at $57.64.

GraniteShares 2x Long NVDA Daily ETF Stock Up 7.7 %

The firm’s fifty day simple moving average is $63.59 and its 200 day simple moving average is $65.82.

Institutional Trading of GraniteShares 2x Long NVDA Daily ETF

Institutional investors have recently made changes to their positions in the stock. Diversify Advisory Services LLC acquired a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the third quarter worth approximately $285,000. JPMorgan Chase & Co. boosted its holdings in shares of GraniteShares 2x Long NVDA Daily ETF by 8.0% during the third quarter. JPMorgan Chase & Co. now owns 78,492 shares of the company’s stock worth $4,567,000 after purchasing an additional 5,839 shares during the period. Strategic Blueprint LLC acquired a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the third quarter worth approximately $351,000. Hollencrest Capital Management boosted its holdings in shares of GraniteShares 2x Long NVDA Daily ETF by 453.4% during the third quarter. Hollencrest Capital Management now owns 5,755 shares of the company’s stock worth $335,000 after purchasing an additional 4,715 shares during the period. Finally, HighTower Advisors LLC acquired a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the third quarter worth approximately $210,000.

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.