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

Shares of GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) gapped down prior to trading on Wednesday . The stock had previously closed at $37.69, but opened at $32.57. GraniteShares 2x Long NVDA Daily ETF shares last traded at $33.23, with a volume of 11,834,845 shares.

GraniteShares 2x Long NVDA Daily ETF Stock Performance

The firm’s fifty day moving average price is $45.78 and its 200 day moving average price is $61.54.

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

A number of hedge funds have recently added to or reduced their stakes in the company. HighTower Advisors LLC acquired a new position in GraniteShares 2x Long NVDA Daily ETF during the third quarter worth $210,000. Barclays PLC boosted its holdings 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 buying an additional 47,800 shares during the period. World Investment Advisors LLC acquired a new position in GraniteShares 2x Long NVDA Daily ETF in the 3rd quarter valued at $291,000. Oriental Harbor Investment Fund bought a new position in GraniteShares 2x Long NVDA Daily ETF in the 3rd quarter worth $27,892,000. Finally, B. Riley Wealth Advisors Inc. acquired a new position in GraniteShares 2x Long NVDA Daily ETF during the 3rd quarter worth $296,000.

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.