GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Shares Down 7.2% – Time to Sell?

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) shares fell 7.2% during trading on Thursday . The stock traded as low as $41.04 and last traded at $41.67. 11,719,619 shares changed hands during trading, a decline of 55% from the average session volume of 25,894,738 shares. The stock had previously closed at $44.89.

GraniteShares 2x Long NVDA Daily ETF Trading Down 11.4 %

The stock has a 50-day moving average price of $61.87 and a two-hundred day moving average price of $65.50.

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

Several institutional investors have recently added to or reduced their stakes in the company. Weaver Consulting Group boosted its position in shares of GraniteShares 2x Long NVDA Daily ETF by 4.7% during the 3rd quarter. Weaver Consulting Group now owns 4,472 shares of the company’s stock valued at $260,000 after acquiring an additional 200 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in GraniteShares 2x Long NVDA Daily ETF by 26.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,088 shares of the company’s stock valued at $72,000 after purchasing an additional 229 shares during the last quarter. Brookstone Capital Management grew its stake in shares of GraniteShares 2x Long NVDA Daily ETF by 1.0% in the 4th quarter. Brookstone Capital Management now owns 38,231 shares of the company’s stock worth $2,538,000 after buying an additional 373 shares in the last quarter. IFP Advisors Inc bought a new stake in shares of GraniteShares 2x Long NVDA Daily ETF in the 4th quarter worth about $27,000. Finally, Flagstar Advisors Inc. raised its position in shares of GraniteShares 2x Long NVDA Daily ETF by 24.3% during the 3rd quarter. Flagstar Advisors Inc. now owns 4,294 shares of the company’s stock valued at $250,000 after buying an additional 840 shares in the last quarter.

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.