GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Stock Jumps 11.1% – Here’s Why

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL)’s share price traded up 11.1% on Friday. The company traded as high as $25.73 and last traded at $25.0040. 5,125,530 shares traded hands during trading, a decline of 75% from the average daily volume of 20,769,051 shares. The stock had previously closed at $22.50.

GraniteShares 2x Long NVDA Daily ETF Price Performance

The stock has a 50-day moving average of $34.29 and a two-hundred day moving average of $31.68.

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

Institutional investors and hedge funds have recently bought and sold shares of the business. IFP Advisors Inc bought a new position in GraniteShares 2x Long NVDA Daily ETF during the 3rd quarter valued at approximately $26,000. Integrated Wealth Concepts LLC purchased a new position in shares of GraniteShares 2x Long NVDA Daily ETF during the 2nd quarter worth $43,000. CoreCap Advisors LLC increased its holdings in GraniteShares 2x Long NVDA Daily ETF by 200.0% in the 2nd quarter. CoreCap Advisors LLC now owns 3,462 shares of the company’s stock worth $103,000 after acquiring an additional 2,308 shares in the last quarter. Vilga Financial Planning LLC bought a new stake in GraniteShares 2x Long NVDA Daily ETF during the third quarter valued at about $220,000. Finally, Turner Financial Group Inc. purchased a new position in shares of GraniteShares 2x Long NVDA Daily ETF in the second quarter worth $303,000.

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.