GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Stock Price Up 8.9% – What’s Next?

Shares of GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) rose 8.9% during mid-day trading on Thursday . The stock traded as high as $129.28 and last traded at $129.22. Approximately 6,506,191 shares were traded during trading, a decline of 31% from the average daily volume of 9,484,229 shares. The stock had previously closed at $118.67.

GraniteShares 2x Long NVDA Daily ETF Price Performance

The business’s 50-day moving average price is $88.50 and its two-hundred day moving average price is $88.23.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NVDL. Financial Life Planners bought a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the first quarter worth $25,000. Parallel Advisors LLC grew its stake in shares of GraniteShares 2x Long NVDA Daily ETF by 104.3% during the fourth quarter. Parallel Advisors LLC now owns 613 shares of the company’s stock worth $54,000 after buying an additional 313 shares during the last quarter. Chung Wu Investment Group LLC grew its stake in shares of GraniteShares 2x Long NVDA Daily ETF by 350.0% during the third quarter. Chung Wu Investment Group LLC now owns 900 shares of the company’s stock worth $84,000 after buying an additional 700 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the third quarter worth $88,000. Finally, CWM LLC bought a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the third quarter worth $94,000.

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.