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

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $29.60, but opened at $33.29. GraniteShares 2x Long NVDA Daily ETF shares last traded at $33.75, with a volume of 8,792,185 shares changing hands.

GraniteShares 2x Long NVDA Daily ETF Stock Performance

The stock has a 50-day simple moving average of $46.91 and a 200-day simple moving average of $62.17.

Institutional Trading of GraniteShares 2x Long NVDA Daily ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in NVDL. Oriental Harbor Investment Fund bought a new stake in GraniteShares 2x Long NVDA Daily ETF in the third quarter worth about $27,892,000. JPMorgan Chase & Co. raised its holdings in shares of GraniteShares 2x Long NVDA Daily ETF by 456.7% in the 4th quarter. JPMorgan Chase & Co. now owns 436,970 shares of the company’s stock worth $29,010,000 after purchasing an additional 358,478 shares in the last quarter. Barclays PLC lifted its stake in GraniteShares 2x Long NVDA Daily ETF by 50.4% during 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 last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in GraniteShares 2x Long NVDA Daily ETF by 1,006.7% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 128,102 shares of the company’s stock worth $8,505,000 after buying an additional 116,527 shares in the last quarter. Finally, TRUE Private Wealth Advisors grew its position in GraniteShares 2x Long NVDA Daily ETF by 1.3% in the fourth quarter. TRUE Private Wealth Advisors now owns 75,170 shares of the company’s stock worth $4,991,000 after buying an additional 982 shares during 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.