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

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) shares gapped up prior to trading on Wednesday . The stock had previously closed at $67.43, but opened at $69.80. GraniteShares 2x Long NVDA Daily ETF shares last traded at $68.06, with a volume of 3,963,856 shares trading hands.

GraniteShares 2x Long NVDA Daily ETF Price Performance

The firm’s 50-day moving average is $58.29 and its 200 day moving average is $56.02.

Institutional Trading of GraniteShares 2x Long NVDA Daily ETF

A number of institutional investors have recently bought and sold shares of the business. Private Ocean LLC bought a new position in shares of GraniteShares 2x Long NVDA Daily ETF during the second quarter valued at $35,000. National Bank of Canada FI acquired a new position in shares of GraniteShares 2x Long NVDA Daily ETF during the second quarter valued at about $42,000. NBC Securities Inc. acquired a new position in shares of GraniteShares 2x Long NVDA Daily ETF during the first quarter valued at about $59,000. Gilliland Jeter Wealth Management LLC purchased a new position in GraniteShares 2x Long NVDA Daily ETF during the second quarter worth about $72,000. Finally, Hollencrest Capital Management boosted its holdings 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 purchasing an additional 1,022 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.