GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Shares Down 3.8% – Here’s Why

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) dropped 3.8% during mid-day trading on Monday . The company traded as low as $45.62 and last traded at $45.48. Approximately 11,624,800 shares traded hands during mid-day trading, a decline of 45% from the average daily volume of 21,013,621 shares. The stock had previously closed at $47.29.

GraniteShares 2x Long NVDA Daily ETF Stock Performance

The business has a 50 day simple moving average of $57.83 and a 200 day simple moving average of $64.20.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of NVDL. JPMorgan Chase & Co. boosted its stake in shares of GraniteShares 2x Long NVDA Daily ETF by 8.0% in the third quarter. JPMorgan Chase & Co. now owns 78,492 shares of the company’s stock valued at $4,567,000 after purchasing an additional 5,839 shares during the period. HighTower Advisors LLC purchased a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the third quarter worth approximately $210,000. Flow Traders U.S. LLC lifted its stake in GraniteShares 2x Long NVDA Daily ETF by 225.4% in the third quarter. Flow Traders U.S. LLC now owns 16,930 shares of the company’s stock worth $985,000 after acquiring an additional 11,727 shares during the last quarter. Claro Advisors LLC grew its stake in shares of GraniteShares 2x Long NVDA Daily ETF by 31.6% during the fourth quarter. Claro Advisors LLC now owns 11,919 shares of the company’s stock worth $791,000 after purchasing an additional 2,861 shares in the last quarter. Finally, Barclays PLC grew its stake in shares of GraniteShares 2x Long NVDA Daily ETF by 50.4% during the third quarter. Barclays PLC now owns 142,652 shares of the company’s stock worth $8,301,000 after purchasing an additional 47,800 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.