GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Stock Price Down 8.7% – Here’s Why

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL)’s share price were down 8.7% during mid-day trading on Tuesday . The stock traded as low as $64.30 and last traded at $68.00. Approximately 17,669,857 shares traded hands during mid-day trading, a decline of 1% from the average daily volume of 17,914,809 shares. The stock had previously closed at $74.50.

GraniteShares 2x Long NVDA Daily ETF Trading Up 1.8 %

The stock has a 50-day moving average price of $58.90 and a 200 day moving average price of $56.13.

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

Several large investors have recently made changes to their positions in NVDL. Jane Street Group LLC acquired a new stake in shares of GraniteShares 2x Long NVDA Daily ETF in the first quarter valued at approximately $10,343,000. IMC Chicago LLC acquired a new position in shares of GraniteShares 2x Long NVDA Daily ETF during the 1st quarter worth about $5,753,000. Nisa Investment Advisors LLC bought a new position in shares of GraniteShares 2x Long NVDA Daily ETF in the 2nd quarter valued at about $7,518,000. Brookstone Capital Management acquired a new stake in shares of GraniteShares 2x Long NVDA Daily ETF in the second quarter valued at about $1,502,000. Finally, SeaCrest Wealth Management LLC bought a new stake in GraniteShares 2x Long NVDA Daily ETF during the first quarter worth about $695,000.

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.