GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Shares Gap Up – Time to Buy?

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) shares gapped up prior to trading on Wednesday . The stock had previously closed at $42.68, but opened at $43.92. GraniteShares 2x Long NVDA Daily ETF shares last traded at $43.82, with a volume of 3,962,899 shares changing hands.

GraniteShares 2x Long NVDA Daily ETF Stock Up 1.3 %

The business has a fifty day moving average price of $56.53 and a two-hundred day moving average price of $64.02.

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

A number of large investors have recently added to or reduced their stakes in the stock. Oriental Harbor Investment Fund bought a new stake in shares of GraniteShares 2x Long NVDA Daily ETF in the third quarter valued at approximately $27,892,000. JPMorgan Chase & Co. increased its stake in shares of GraniteShares 2x Long NVDA Daily ETF by 456.7% in the fourth quarter. JPMorgan Chase & Co. now owns 436,970 shares of the company’s stock valued at $29,010,000 after buying an additional 358,478 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its stake in shares of GraniteShares 2x Long NVDA Daily ETF by 1,006.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 128,102 shares of the company’s stock valued at $8,505,000 after buying an additional 116,527 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of GraniteShares 2x Long NVDA Daily ETF in the fourth quarter valued at $3,307,000. Finally, Barclays PLC boosted its holdings in GraniteShares 2x Long NVDA Daily ETF by 50.4% in the third quarter. Barclays PLC now owns 142,652 shares of the company’s stock valued at $8,301,000 after acquiring an additional 47,800 shares during the last quarter.

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.