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

Shares of GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) gapped up before the market opened on Monday . The stock had previously closed at $60.37, but opened at $62.58. GraniteShares 2x Long NVDA Daily ETF shares last traded at $59.00, with a volume of 8,290,193 shares trading hands.

GraniteShares 2x Long NVDA Daily ETF Stock Performance

The business has a 50-day simple moving average of $64.66 and a 200-day simple moving average of $65.70.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Josh Arnold Investment Consultant LLC raised its holdings in shares of GraniteShares 2x Long NVDA Daily ETF by 88.2% in the fourth quarter. Josh Arnold Investment Consultant LLC now owns 26,725 shares of the company’s stock worth $1,774,000 after buying an additional 12,525 shares during the period. Snowden Capital Advisors LLC bought a new stake in GraniteShares 2x Long NVDA Daily ETF during the 4th quarter valued at $256,000. CoreCap Advisors LLC boosted its position in GraniteShares 2x Long NVDA Daily ETF by 530.0% during the 4th quarter. CoreCap Advisors LLC now owns 1,575 shares of the company’s stock valued at $105,000 after acquiring an additional 1,325 shares in the last quarter. Cresset Asset Management LLC boosted its position in shares of GraniteShares 2x Long NVDA Daily ETF by 20.7% in the 4th quarter. Cresset Asset Management LLC now owns 7,000 shares of the company’s stock worth $465,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its position in shares of GraniteShares 2x Long NVDA Daily ETF by 1,006.7% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 128,102 shares of the company’s stock worth $8,505,000 after purchasing an additional 116,527 shares in 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.