GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Stock Price Down 5.6% – Here’s Why

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL)’s share price dropped 5.6% on Friday . The company traded as low as $76.75 and last traded at $76.90. Approximately 6,769,858 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 17,902,043 shares. The stock had previously closed at $81.42.

GraniteShares 2x Long NVDA Daily ETF Trading Down 6.5 %

The stock has a fifty day moving average of $70.00 and a two-hundred day moving average of $63.64.

Hedge Funds 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 NVDL. Jane Street Group LLC acquired a new stake in shares of GraniteShares 2x Long NVDA Daily ETF in the first quarter valued at about $10,343,000. Barclays PLC lifted its position in shares of 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 valued at $8,301,000 after acquiring an additional 47,800 shares during the period. Nisa Investment Advisors LLC purchased a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the 2nd quarter worth approximately $7,518,000. TRUE Private Wealth Advisors grew its holdings in shares of GraniteShares 2x Long NVDA Daily ETF by 3.5% in the 3rd quarter. TRUE Private Wealth Advisors now owns 74,188 shares of the company’s stock worth $4,317,000 after acquiring an additional 2,531 shares during the period. Finally, Brookstone Capital Management increased its stake in GraniteShares 2x Long NVDA Daily ETF by 75.4% in the 3rd quarter. Brookstone Capital Management now owns 37,858 shares of the company’s stock valued at $2,203,000 after purchasing an additional 16,269 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.