GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Stock Price Down 9% – Should You Sell?

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) fell 9% during mid-day trading on Thursday . The company traded as low as $83.25 and last traded at $85.6170. 12,289,815 shares traded hands during mid-day trading, an increase of 20% from the average session volume of 10,262,402 shares. The stock had previously closed at $94.06.

GraniteShares 2x Long NVDA Daily ETF Stock Performance

The stock has a 50-day moving average price of $86.85 and a 200-day moving average price of $88.15.

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

Several institutional investors and hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC grew its holdings in GraniteShares 2x Long NVDA Daily ETF by 104.3% in the fourth quarter. Parallel Advisors LLC now owns 613 shares of the company’s stock worth $54,000 after purchasing an additional 313 shares during the period. Sigma Planning Corp grew its stake in shares of GraniteShares 2x Long NVDA Daily ETF by 4.9% in the 4th quarter. Sigma Planning Corp now owns 11,645 shares of the company’s stock valued at $1,025,000 after buying an additional 545 shares during the period. Trinity Financial Advisors LLC grew its stake in shares of GraniteShares 2x Long NVDA Daily ETF by 25.5% in the 4th quarter. Trinity Financial Advisors LLC now owns 3,013 shares of the company’s stock valued at $265,000 after buying an additional 613 shares during the period. Chung Wu Investment Group LLC increased its position in GraniteShares 2x Long NVDA Daily ETF by 350.0% in the 3rd quarter. Chung Wu Investment Group LLC now owns 900 shares of the company’s stock valued at $84,000 after buying an additional 700 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its holdings in GraniteShares 2x Long NVDA Daily ETF by 49.7% in the second quarter. Osaic Holdings Inc. now owns 2,375 shares of the company’s stock worth $167,000 after acquiring an additional 788 shares in 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.