GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Shares Up 4.3% – Still a Buy?

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL)’s stock price traded up 4.3% during trading on Thursday . The company traded as high as $64.74 and last traded at $64.35. 8,762,060 shares traded hands during mid-day trading, a decline of 51% from the average session volume of 17,761,801 shares. The stock had previously closed at $61.69.

GraniteShares 2x Long NVDA Daily ETF Stock Performance

The stock has a 50-day simple moving average of $74.42 and a two-hundred day simple moving average of $66.74.

Hedge Funds Weigh In On GraniteShares 2x Long NVDA Daily ETF

Hedge funds have recently made changes to their positions in the business. Private Ocean LLC purchased a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the second quarter valued at approximately $35,000. National Bank of Canada FI purchased a new position in shares of GraniteShares 2x Long NVDA Daily ETF during the 2nd quarter worth $42,000. Hollencrest Capital Management grew its position in shares of GraniteShares 2x Long NVDA Daily ETF by 5,677.8% during the 2nd quarter. Hollencrest Capital Management now owns 1,040 shares of the company’s stock valued at $72,000 after acquiring an additional 1,022 shares during the period. Gilliland Jeter Wealth Management LLC bought a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the 2nd quarter valued at $72,000. Finally, Centaurus Financial Inc. purchased a new stake in shares of GraniteShares 2x Long NVDA Daily ETF in the 3rd quarter worth $134,000.

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.