GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Sets New 12-Month Low – What’s Next?

Shares of GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) reached a new 52-week low during trading on Friday . The stock traded as low as $26.24 and last traded at $28.11, with a volume of 18002507 shares traded. The stock had previously closed at $32.45.

GraniteShares 2x Long NVDA Daily ETF Stock Down 14.8 %

The company has a fifty day simple moving average of $48.75 and a two-hundred day simple moving average of $62.94.

Hedge Funds Weigh In On GraniteShares 2x Long NVDA Daily ETF

Institutional investors have recently added to or reduced their stakes in the business. HighTower Advisors LLC purchased a new stake in GraniteShares 2x Long NVDA Daily ETF in the 3rd quarter valued at about $210,000. 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 period. World Investment Advisors LLC acquired a new position in GraniteShares 2x Long NVDA Daily ETF during the third quarter worth approximately $291,000. Oriental Harbor Investment Fund purchased a new position in GraniteShares 2x Long NVDA Daily ETF during the third quarter worth approximately $27,892,000. Finally, B. Riley Wealth Advisors Inc. acquired a new position in shares of GraniteShares 2x Long NVDA Daily ETF in the 3rd quarter valued at $296,000.

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.