GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Shares Gap Down – Here’s What Happened

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $46.30, but opened at $44.80. GraniteShares 2x Long NVDA Daily ETF shares last traded at $41.95, with a volume of 7,198,415 shares changing hands.

GraniteShares 2x Long NVDA Daily ETF Stock Performance

The firm’s 50 day moving average is $54.29 and its two-hundred day moving average is $63.91.

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

A number of hedge funds have recently added to or reduced their stakes in the stock. Weaver Consulting Group increased its holdings in shares of GraniteShares 2x Long NVDA Daily ETF by 4.7% in the 3rd quarter. Weaver Consulting Group now owns 4,472 shares of the company’s stock worth $260,000 after acquiring an additional 200 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of 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 purchasing an additional 229 shares during the period. Brookstone Capital Management boosted its position in shares of GraniteShares 2x Long NVDA Daily ETF by 1.0% during the fourth quarter. Brookstone Capital Management now owns 38,231 shares of the company’s stock worth $2,538,000 after buying an additional 373 shares during the period. IFP Advisors Inc bought a new position in GraniteShares 2x Long NVDA Daily ETF in the 4th quarter worth approximately $27,000. Finally, TRUE Private Wealth Advisors increased its position in GraniteShares 2x Long NVDA Daily ETF by 1.3% in the 4th quarter. TRUE Private Wealth Advisors now owns 75,170 shares of the company’s stock valued at $4,991,000 after acquiring an additional 982 shares during the period.

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.