GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Trading 4.3% Higher – Still a Buy?

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL)’s share price were up 4.3% during trading on Thursday . The company traded as high as $64.74 and last traded at $64.35. Approximately 8,762,060 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 17,761,801 shares. The stock had previously closed at $61.69.

GraniteShares 2x Long NVDA Daily ETF Stock Performance

The stock’s 50 day moving average price is $74.20 and its two-hundred day moving average price is $66.75.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Oriental Harbor Investment Fund purchased a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the 3rd quarter worth approximately $27,892,000. Barclays PLC grew its holdings in GraniteShares 2x Long NVDA Daily ETF by 50.4% in the third quarter. Barclays PLC now owns 142,652 shares of the company’s stock valued at $8,301,000 after purchasing an additional 47,800 shares during the last quarter. TRUE Private Wealth Advisors raised its stake in shares of GraniteShares 2x Long NVDA Daily ETF by 3.5% during the 3rd quarter. TRUE Private Wealth Advisors now owns 74,188 shares of the company’s stock worth $4,317,000 after buying an additional 2,531 shares during the last quarter. Brookstone Capital Management raised its stake in shares of GraniteShares 2x Long NVDA Daily ETF by 75.4% during the 3rd quarter. Brookstone Capital Management now owns 37,858 shares of the company’s stock worth $2,203,000 after buying an additional 16,269 shares during the last quarter. Finally, Creative Planning grew its stake in GraniteShares 2x Long NVDA Daily ETF by 299.8% in the 3rd quarter. Creative Planning now owns 18,038 shares of the company’s stock valued at $1,050,000 after acquiring an additional 13,526 shares during the last quarter.

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.