GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Stock Price Down 4.3%

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL)’s stock price were down 4.3% during mid-day trading on Friday . The company traded as low as $57.88 and last traded at $58.16. Approximately 5,906,382 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 17,809,723 shares. The stock had previously closed at $60.79.

GraniteShares 2x Long NVDA Daily ETF Stock Down 5.3 %

The stock has a fifty day moving average price of $56.01 and a 200-day moving average price of $53.76.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of NVDL. Private Ocean LLC acquired a new position in GraniteShares 2x Long NVDA Daily ETF during the second quarter worth $35,000. National Bank of Canada FI purchased a new stake in GraniteShares 2x Long NVDA Daily ETF during the second quarter worth $42,000. Gilliland Jeter Wealth Management LLC purchased a new stake in GraniteShares 2x Long NVDA Daily ETF during the second quarter worth $72,000. Hollencrest Capital Management boosted its position in GraniteShares 2x Long NVDA Daily ETF by 5,677.8% during the second quarter. Hollencrest Capital Management now owns 1,040 shares of the company’s stock worth $72,000 after purchasing an additional 1,022 shares in the last quarter. Finally, NBC Securities Inc. purchased a new stake in GraniteShares 2x Long NVDA Daily ETF during the first quarter worth $59,000.

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.