GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Shares Up 7.7% – Time to Buy?

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL)’s stock price shot up 7.7% during mid-day trading on Tuesday . The company traded as high as $33.09 and last traded at $33.07. Approximately 10,721,175 shares were traded during trading, a decline of 59% from the average session volume of 26,377,971 shares. The stock had previously closed at $30.70.

GraniteShares 2x Long NVDA Daily ETF Stock Performance

The company’s 50-day moving average price is $33.47 and its 200-day moving average price is $30.18.

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

Several large investors have recently added to or reduced their stakes in NVDL. Financial Life Planners purchased a new position in GraniteShares 2x Long NVDA Daily ETF in the 1st quarter valued at approximately $25,000. Parallel Advisors LLC grew its stake in shares of 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 acquiring an additional 313 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the third quarter worth $88,000. CoreCap Advisors LLC increased its position in shares of GraniteShares 2x Long NVDA Daily ETF by 200.0% during the second quarter. CoreCap Advisors LLC now owns 3,462 shares of the company’s stock worth $103,000 after acquiring an additional 2,308 shares during the period. Finally, Headlands Technologies LLC raised its stake in shares of GraniteShares 2x Long NVDA Daily ETF by 953.1% in the second quarter. Headlands Technologies LLC now owns 1,685 shares of the company’s stock valued at $119,000 after acquiring an additional 1,525 shares in the last quarter.

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.