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

Shares of GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) 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 trading hands.

GraniteShares 2x Long NVDA Daily ETF Stock Performance

The company’s fifty day simple moving average is $45.78 and its two-hundred day simple moving average is $61.54.

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

A number of institutional investors and hedge funds have recently made changes to their positions in the business. IFP Advisors Inc acquired a new position in GraniteShares 2x Long NVDA Daily ETF during the 4th quarter valued at about $27,000. Tower Research Capital LLC TRC boosted its position in shares of GraniteShares 2x Long NVDA Daily ETF by 26.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,088 shares of the company’s stock valued at $72,000 after buying an additional 229 shares during the last quarter. Spire Wealth Management bought a new stake in GraniteShares 2x Long NVDA Daily ETF during the fourth quarter worth $78,000. CoreCap Advisors LLC raised its position in GraniteShares 2x Long NVDA Daily ETF by 530.0% in the 4th quarter. CoreCap Advisors LLC now owns 1,575 shares of the company’s stock valued at $105,000 after buying an additional 1,325 shares during the last quarter. Finally, Parallel Advisors LLC lifted its stake in GraniteShares 2x Long NVDA Daily ETF by 378.9% during the 1st quarter. Parallel Advisors LLC now owns 1,700 shares of the company’s stock valued at $64,000 after acquiring an additional 1,345 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.