GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Sets New 52-Week Low – Here’s Why

Shares of GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) reached a new 52-week low during trading on Monday. The stock traded as low as $20.91 and last traded at $20.1430, with a volume of 5,632,391 shares. The stock had previously closed at $23.71.

GraniteShares 2x Long NVDA Daily ETF Trading Down 9.0%

The business’s fifty day moving average is $34.02 and its two-hundred day moving average is $31.67.

Institutional Trading of GraniteShares 2x Long NVDA Daily ETF

Several institutional investors and hedge funds have recently modified their holdings of NVDL. Persium Advisors LLC purchased a new stake in shares of GraniteShares 2x Long NVDA Daily ETF in the third quarter valued at approximately $844,000. Corient Private Wealth LP bought a new position in GraniteShares 2x Long NVDA Daily ETF in the second quarter worth approximately $2,777,000. Group One Trading LLC purchased a new position in GraniteShares 2x Long NVDA Daily ETF during the 1st quarter worth $1,278,000. Renaissance Technologies LLC purchased a new position in GraniteShares 2x Long NVDA Daily ETF during the 1st quarter worth $5,907,000. Finally, Integrated Wealth Concepts LLC bought a new stake in GraniteShares 2x Long NVDA Daily ETF during the 2nd quarter valued at $43,000.

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.