GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Stock Price Up 9.5% – Time to Buy?

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) rose 9.5% during mid-day trading on Tuesday . The stock traded as high as $39.72 and last traded at $40.49. Approximately 24,975,236 shares were traded during trading, a decline of 6% from the average daily volume of 26,485,264 shares. The stock had previously closed at $36.98.

GraniteShares 2x Long NVDA Daily ETF Price Performance

The stock’s fifty day moving average is $60.00 and its 200 day moving average is $64.89.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NVDL. IFP Advisors Inc bought a new stake in shares of GraniteShares 2x Long NVDA Daily ETF in the 4th quarter valued at about $27,000. Tower Research Capital LLC TRC boosted its stake in GraniteShares 2x Long NVDA Daily ETF by 26.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,088 shares of the company’s stock valued at $72,000 after acquiring an additional 229 shares in the last quarter. Spire Wealth Management purchased a new position in GraniteShares 2x Long NVDA Daily ETF in the fourth quarter worth $78,000. CoreCap Advisors LLC increased its position in shares of GraniteShares 2x Long NVDA Daily ETF by 530.0% during the fourth quarter. CoreCap Advisors LLC now owns 1,575 shares of the company’s stock worth $105,000 after purchasing an additional 1,325 shares in the last quarter. Finally, Centaurus Financial Inc. purchased a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the 3rd quarter valued at $134,000.

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.