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

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL)’s share price gapped up before the market opened on Monday . The stock had previously closed at $36.74, but opened at $39.11. GraniteShares 2x Long NVDA Daily ETF shares last traded at $37.57, with a volume of 9,483,102 shares changing hands.

GraniteShares 2x Long NVDA Daily ETF Trading Up 2.6 %

The stock’s 50-day moving average is $45.78 and its 200-day moving average is $61.54.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. IMC Chicago LLC bought a new stake in GraniteShares 2x Long NVDA Daily ETF during the 1st quarter worth $17,587,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the first quarter worth about $79,000. Parallel Advisors LLC increased its stake in shares of GraniteShares 2x Long NVDA Daily ETF by 378.9% in the first quarter. Parallel Advisors LLC now owns 1,700 shares of the company’s stock valued at $64,000 after buying an additional 1,345 shares during the period. Josh Arnold Investment Consultant LLC raised its holdings in GraniteShares 2x Long NVDA Daily ETF by 88.2% in the 4th quarter. Josh Arnold Investment Consultant LLC now owns 26,725 shares of the company’s stock valued at $1,774,000 after buying an additional 12,525 shares during the last quarter. Finally, Snowden Capital Advisors LLC acquired a new stake in GraniteShares 2x Long NVDA Daily ETF during the 4th quarter worth approximately $256,000.

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.