GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Stock Price Down 8% – Time to Sell?

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL)’s stock price were down 8% on Wednesday . The stock traded as low as $72.99 and last traded at $73.45. Approximately 18,725,975 shares changed hands during trading, an increase of 4% from the average daily volume of 18,026,564 shares. The stock had previously closed at $79.80.

GraniteShares 2x Long NVDA Daily ETF Trading Up 1.5 %

The firm’s fifty day simple moving average is $61.63 and its two-hundred day simple moving average is $57.54.

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

Large investors have recently added to or reduced their stakes in the company. Private Ocean LLC purchased a new position in shares of GraniteShares 2x Long NVDA Daily ETF in the second quarter worth $35,000. National Bank of Canada FI purchased a new position in shares of GraniteShares 2x Long NVDA Daily ETF in the second quarter worth $42,000. Gilliland Jeter Wealth Management LLC purchased a new position in shares of GraniteShares 2x Long NVDA Daily ETF in the second quarter worth $72,000. Hollencrest Capital Management lifted its holdings in shares of GraniteShares 2x Long NVDA Daily ETF by 5,677.8% in the second quarter. Hollencrest Capital Management now owns 1,040 shares of the company’s stock worth $72,000 after buying an additional 1,022 shares in the last quarter. Finally, Cherry Tree Wealth Management LLC bought a new stake in GraniteShares 2x Long NVDA Daily ETF in the first quarter worth $95,000.

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.