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

Shares of GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) gapped down prior to trading on Wednesday . The stock had previously closed at $70.62, but opened at $68.63. GraniteShares 2x Long NVDA Daily ETF shares last traded at $66.20, with a volume of 8,786,908 shares.

GraniteShares 2x Long NVDA Daily ETF Stock Down 4.1 %

The stock has a 50 day moving average price of $70.66 and a 200 day moving average price of $64.42.

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

A number of institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC bought a new stake in GraniteShares 2x Long NVDA Daily ETF in the first quarter valued at approximately $10,343,000. Nisa Investment Advisors LLC bought a new position in GraniteShares 2x Long NVDA Daily ETF in the 2nd quarter valued at approximately $7,518,000. Barclays PLC grew its holdings in shares of GraniteShares 2x Long NVDA Daily ETF by 50.4% during the third quarter. Barclays PLC now owns 142,652 shares of the company’s stock worth $8,301,000 after purchasing an additional 47,800 shares during the last quarter. Brookstone Capital Management bought a new position in GraniteShares 2x Long NVDA Daily ETF during the 2nd quarter worth $1,502,000. Finally, Josh Arnold Investment Consultant LLC bought a new position in GraniteShares 2x Long NVDA Daily ETF during the 3rd quarter worth approximately $826,000.

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.