GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Shares Down 7.2% – What’s Next?

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) shares traded down 7.2% during mid-day trading on Thursday . The stock traded as low as $41.04 and last traded at $41.67. 11,719,619 shares were traded during mid-day trading, a decline of 55% from the average session volume of 25,894,738 shares. The stock had previously closed at $44.89.

GraniteShares 2x Long NVDA Daily ETF Stock Down 11.4 %

The stock’s fifty day simple moving average is $61.87 and its 200 day simple moving average is $65.50.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Oriental Harbor Investment Fund acquired a new stake in GraniteShares 2x Long NVDA Daily ETF in the third quarter valued at approximately $27,892,000. JPMorgan Chase & Co. boosted its position in shares of GraniteShares 2x Long NVDA Daily ETF by 456.7% in the 4th quarter. JPMorgan Chase & Co. now owns 436,970 shares of the company’s stock worth $29,010,000 after purchasing an additional 358,478 shares in the last quarter. Barclays PLC grew its stake in GraniteShares 2x Long NVDA Daily ETF by 50.4% during the 3rd quarter. Barclays PLC now owns 142,652 shares of the company’s stock worth $8,301,000 after buying an additional 47,800 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its stake in GraniteShares 2x Long NVDA Daily ETF by 1,006.7% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 128,102 shares of the company’s stock worth $8,505,000 after buying an additional 116,527 shares during the last quarter. Finally, TRUE Private Wealth Advisors increased its position in GraniteShares 2x Long NVDA Daily ETF by 1.3% during the 4th quarter. TRUE Private Wealth Advisors now owns 75,170 shares of the company’s stock valued at $4,991,000 after buying an additional 982 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.