GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Shares Up 5.5% – Still a Buy?

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) traded up 5.5% during trading on Monday . The stock traded as high as $74.94 and last traded at $74.84. 4,941,248 shares were traded during mid-day trading, a decline of 72% from the average session volume of 17,872,061 shares. The stock had previously closed at $70.94.

GraniteShares 2x Long NVDA Daily ETF Stock Performance

The stock has a 50-day moving average price of $58.29 and a two-hundred day moving average price of $56.02.

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

Large investors have recently added to or reduced their stakes in the company. Private Ocean LLC bought a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the 2nd quarter valued at $35,000. National Bank of Canada FI purchased a new position in shares of GraniteShares 2x Long NVDA Daily ETF in the second quarter valued at about $42,000. NBC Securities Inc. bought a new position in shares of GraniteShares 2x Long NVDA Daily ETF in the first quarter worth about $59,000. Gilliland Jeter Wealth Management LLC purchased a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the second quarter worth about $72,000. Finally, Hollencrest Capital Management raised its stake in GraniteShares 2x Long NVDA Daily ETF by 5,677.8% during the 2nd quarter. Hollencrest Capital Management now owns 1,040 shares of the company’s stock valued at $72,000 after purchasing an additional 1,022 shares during the period.

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.