GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Trading Down 7.4% – Should You Sell?

Shares of GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) dropped 7.4% on Friday . The company traded as low as $28.86 and last traded at $29.44. 4,093,526 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 26,072,049 shares. The stock had previously closed at $31.79.

GraniteShares 2x Long NVDA Daily ETF Price Performance

The firm has a 50-day simple moving average of $33.47 and a 200-day simple moving average of $30.24.

Institutional Trading of GraniteShares 2x Long NVDA Daily ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vestor Capital LLC grew its position in shares of GraniteShares 2x Long NVDA Daily ETF by 3.9% during the 1st quarter. Vestor Capital LLC now owns 5,502 shares of the company’s stock valued at $399,000 after acquiring an additional 204 shares during the period. Tactive Advisors LLC raised its holdings in GraniteShares 2x Long NVDA Daily ETF by 8.1% in the 1st quarter. Tactive Advisors LLC now owns 3,403 shares of the company’s stock worth $247,000 after purchasing an additional 254 shares during the period. Parallel Advisors LLC raised its holdings in GraniteShares 2x Long NVDA Daily ETF by 104.3% in the 4th quarter. Parallel Advisors LLC now owns 613 shares of the company’s stock worth $54,000 after purchasing an additional 313 shares during the period. Financial Life Planners purchased a new position in GraniteShares 2x Long NVDA Daily ETF during the first quarter valued at $25,000. Finally, Sigma Planning Corp grew its holdings in GraniteShares 2x Long NVDA Daily ETF by 4.9% during the fourth quarter. Sigma Planning Corp now owns 11,645 shares of the company’s stock valued at $1,025,000 after purchasing an additional 545 shares during the period.

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.