GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Shares Gap Down – What’s Next?

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $67.16, but opened at $61.29. GraniteShares 2x Long NVDA Daily ETF shares last traded at $62.60, with a volume of 6,018,690 shares trading hands.

GraniteShares 2x Long NVDA Daily ETF Stock Performance

The company’s 50-day simple moving average is $72.98 and its 200 day simple moving average is $66.32.

Institutional Trading of GraniteShares 2x Long NVDA Daily ETF

A number of hedge funds have recently bought and sold shares of NVDL. Oriental Harbor Investment Fund bought a new position in GraniteShares 2x Long NVDA Daily ETF in the 3rd quarter valued at $27,892,000. Barclays PLC boosted its holdings in shares of GraniteShares 2x Long NVDA Daily ETF by 50.4% in the 3rd quarter. Barclays PLC now owns 142,652 shares of the company’s stock worth $8,301,000 after buying an additional 47,800 shares during the last quarter. JPMorgan Chase & Co. grew its position in GraniteShares 2x Long NVDA Daily ETF by 8.0% during the third quarter. JPMorgan Chase & Co. now owns 78,492 shares of the company’s stock valued at $4,567,000 after buying an additional 5,839 shares during the period. TRUE Private Wealth Advisors increased its holdings in GraniteShares 2x Long NVDA Daily ETF by 3.5% during the third quarter. TRUE Private Wealth Advisors now owns 74,188 shares of the company’s stock worth $4,317,000 after buying an additional 2,531 shares during the last quarter. Finally, Brookstone Capital Management raised its position in GraniteShares 2x Long NVDA Daily ETF by 1.0% in the fourth quarter. Brookstone Capital Management now owns 38,231 shares of the company’s stock worth $2,538,000 after acquiring an additional 373 shares during the period.

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.