GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Stock Price Down 8% – What’s Next?

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) shares fell 8% on Thursday . The company traded as low as $52.17 and last traded at $53.01. 28,404,381 shares were traded during mid-day trading, an increase of 14% from the average session volume of 24,839,510 shares. The stock had previously closed at $57.64.

GraniteShares 2x Long NVDA Daily ETF Price Performance

The business’s 50-day moving average price is $64.23 and its two-hundred day moving average price is $65.94.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Oriental Harbor Investment Fund bought a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the 3rd quarter valued at about $27,892,000. JPMorgan Chase & Co. lifted its position in shares of GraniteShares 2x Long NVDA Daily ETF by 456.7% during the 4th quarter. JPMorgan Chase & Co. now owns 436,970 shares of the company’s stock worth $29,010,000 after buying an additional 358,478 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its position in GraniteShares 2x Long NVDA Daily ETF by 1,006.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 128,102 shares of the company’s stock worth $8,505,000 after purchasing an additional 116,527 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of GraniteShares 2x Long NVDA Daily ETF during the 4th quarter valued at approximately $3,307,000. Finally, Barclays PLC grew its stake in shares of GraniteShares 2x Long NVDA Daily ETF by 50.4% during the 3rd quarter. Barclays PLC now owns 142,652 shares of the company’s stock worth $8,301,000 after acquiring an additional 47,800 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.