GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Trading 6.6% Higher – Here’s What Happened

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) shares rose 6.6% during mid-day trading on Wednesday . The stock traded as high as $33.79 and last traded at $33.72. 10,282,927 shares were traded during mid-day trading, a decline of 60% from the average session volume of 25,771,070 shares. The stock had previously closed at $31.62.

GraniteShares 2x Long NVDA Daily ETF Stock Performance

The firm’s fifty day simple moving average is $33.09 and its 200 day simple moving average is $30.26.

Institutional Investors Weigh In On GraniteShares 2x Long NVDA Daily ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in NVDL. Goldman Sachs Group Inc. acquired a new stake in shares of GraniteShares 2x Long NVDA Daily ETF in the 4th quarter valued at about $30,804,000. Renaissance Technologies LLC acquired a new stake in GraniteShares 2x Long NVDA Daily ETF in the 1st quarter valued at approximately $5,907,000. Hoey Investments Inc. lifted its stake in GraniteShares 2x Long NVDA Daily ETF by 12.6% in the 1st quarter. Hoey Investments Inc. now owns 44,234 shares of the company’s stock valued at $3,210,000 after acquiring an additional 4,935 shares in the last quarter. Harvest Fund Management Co. Ltd lifted its stake in GraniteShares 2x Long NVDA Daily ETF by 105.0% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 41,152 shares of the company’s stock valued at $3,622,000 after acquiring an additional 21,073 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its position in GraniteShares 2x Long NVDA Daily ETF by 3.7% during the 3rd quarter. NewEdge Advisors LLC now owns 35,485 shares of the company’s stock worth $3,322,000 after acquiring an additional 1,251 shares during the last quarter.

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.