GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Shares Up 9.6% – Should You Buy?

Shares of GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) shot up 9.6% on Monday . The stock traded as high as $112.61 and last traded at $112.61. 6,258,295 shares traded hands during trading, a decline of 35% from the average session volume of 9,560,326 shares. The stock had previously closed at $102.72.

GraniteShares 2x Long NVDA Daily ETF Stock Performance

The firm has a 50 day moving average price of $94.11 and a two-hundred day moving average price of $88.48.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in NVDL. NewEdge Advisors LLC boosted its stake in GraniteShares 2x Long NVDA Daily ETF by 119.5% in the 1st quarter. NewEdge Advisors LLC now owns 29,264 shares of the company’s stock worth $1,094,000 after purchasing an additional 15,931 shares during the period. Diversify Advisory Services LLC bought a new position in GraniteShares 2x Long NVDA Daily ETF in the 2nd quarter worth about $183,000. Josh Arnold Investment Consultant LLC bought a new position in GraniteShares 2x Long NVDA Daily ETF in the 2nd quarter worth about $481,000. EP Wealth Advisors LLC bought a new position in GraniteShares 2x Long NVDA Daily ETF in the 2nd quarter worth about $409,000. Finally, Snowden Capital Advisors LLC bought a new position in GraniteShares 2x Long NVDA Daily ETF in the 2nd quarter worth about $272,000.

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.