GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Trading 6.5% Higher – Time to Buy?

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL)’s stock price shot up 6.5% during mid-day trading on Wednesday . The company traded as high as $30.89 and last traded at $30.80. 15,720,137 shares changed hands during trading, a decline of 41% from the average daily volume of 26,729,203 shares. The stock had previously closed at $28.91.

GraniteShares 2x Long NVDA Daily ETF Stock Performance

The company’s 50-day moving average price is $33.50 and its 200-day moving average price is $30.15.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vestor Capital LLC grew its stake in shares of GraniteShares 2x Long NVDA Daily ETF by 3.9% in the first quarter. Vestor Capital LLC now owns 5,502 shares of the company’s stock worth $399,000 after acquiring an additional 204 shares in the last quarter. Tactive Advisors LLC raised its stake in shares of GraniteShares 2x Long NVDA Daily ETF by 8.1% in the first quarter. Tactive Advisors LLC now owns 3,403 shares of the company’s stock valued at $247,000 after acquiring an additional 254 shares in the last quarter. Parallel Advisors LLC boosted its holdings in GraniteShares 2x Long NVDA Daily ETF by 104.3% in the fourth quarter. Parallel Advisors LLC now owns 613 shares of the company’s stock valued at $54,000 after purchasing an additional 313 shares during the period. Financial Life Planners purchased a new position in GraniteShares 2x Long NVDA Daily ETF in the first quarter valued at $25,000. Finally, Sigma Planning Corp grew its stake in GraniteShares 2x Long NVDA Daily ETF by 4.9% during the 4th quarter. Sigma Planning Corp now owns 11,645 shares of the company’s stock worth $1,025,000 after purchasing an additional 545 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.