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

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) gapped down prior to trading on Friday . The stock had previously closed at $72.29, but opened at $70.84. GraniteShares 2x Long NVDA Daily ETF shares last traded at $68.94, with a volume of 3,250,763 shares.

GraniteShares 2x Long NVDA Daily ETF Price Performance

The firm has a fifty day simple moving average of $74.18 and a two-hundred day simple moving average of $66.87.

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

Large investors have recently modified their holdings of the stock. Oriental Harbor Investment Fund purchased a new stake in GraniteShares 2x Long NVDA Daily ETF in the third quarter worth about $27,892,000. Barclays PLC grew its stake in shares of GraniteShares 2x Long NVDA Daily ETF by 50.4% in the 3rd quarter. Barclays PLC now owns 142,652 shares of the company’s stock worth $8,301,000 after buying an additional 47,800 shares during the last quarter. JPMorgan Chase & Co. increased its position in GraniteShares 2x Long NVDA Daily ETF by 8.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 78,492 shares of the company’s stock valued at $4,567,000 after buying an additional 5,839 shares in the last quarter. TRUE Private Wealth Advisors raised its stake in GraniteShares 2x Long NVDA Daily ETF by 3.5% during the third quarter. TRUE Private Wealth Advisors now owns 74,188 shares of the company’s stock valued at $4,317,000 after buying an additional 2,531 shares during the last quarter. Finally, Brookstone Capital Management boosted its holdings in GraniteShares 2x Long NVDA Daily ETF by 75.4% in the third quarter. Brookstone Capital Management now owns 37,858 shares of the company’s stock worth $2,203,000 after acquiring an additional 16,269 shares in the last quarter.

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.