GraniteShares 2x Long NVDA Daily ETF Target of Unusually High Options Trading (NASDAQ:NVDL)

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) was the target of unusually large options trading on Thursday. Stock traders acquired 45,101 call options on the stock. This represents an increase of 66% compared to the average daily volume of 27,203 call options.

Hedge Funds Weigh In On GraniteShares 2x Long NVDA Daily ETF

A number of institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. purchased a new stake in shares of GraniteShares 2x Long NVDA Daily ETF in the fourth quarter valued at approximately $30,804,000. Corient Private Wealth LP purchased a new stake in shares of GraniteShares 2x Long NVDA Daily ETF in the 2nd quarter worth $2,777,000. Renaissance Technologies LLC bought a new position in shares of GraniteShares 2x Long NVDA Daily ETF during the 1st quarter worth $5,907,000. Hoey Investments Inc. grew its position in shares of GraniteShares 2x Long NVDA Daily ETF by 12.6% during the 1st quarter. Hoey Investments Inc. now owns 44,234 shares of the company’s stock worth $3,210,000 after buying an additional 4,935 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd increased its stake in shares of GraniteShares 2x Long NVDA Daily ETF by 105.0% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 41,152 shares of the company’s stock valued at $3,622,000 after buying an additional 21,073 shares during the period.

GraniteShares 2x Long NVDA Daily ETF Stock Performance

NASDAQ NVDL opened at $33.75 on Friday. The company’s 50-day moving average price is $31.83 and its 200-day moving average price is $31.09. GraniteShares 2x Long NVDA Daily ETF has a 12 month low of $21.54 and a 12 month high of $43.27.

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.