GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Stock Price Down 3% – Here’s Why

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) fell 3% on Monday . The stock traded as low as $64.61 and last traded at $65.27. 8,561,699 shares traded hands during trading, a decline of 16% from the average session volume of 10,228,022 shares. The stock had previously closed at $67.26.

GraniteShares 2x Long NVDA Daily ETF Stock Down 3.0%

The business has a fifty day simple moving average of $82.21 and a 200-day simple moving average of $86.84.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC lifted its holdings in shares of GraniteShares 2x Long NVDA Daily ETF by 104.3% during the fourth quarter. Parallel Advisors LLC now owns 613 shares of the company’s stock valued at $54,000 after purchasing an additional 313 shares in the last quarter. Chung Wu Investment Group LLC increased its holdings in GraniteShares 2x Long NVDA Daily ETF by 350.0% in the 3rd quarter. Chung Wu Investment Group LLC now owns 900 shares of the company’s stock worth $84,000 after buying an additional 700 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in GraniteShares 2x Long NVDA Daily ETF in the 3rd quarter worth about $88,000. CWM LLC purchased a new position in GraniteShares 2x Long NVDA Daily ETF in the 3rd quarter worth about $94,000. Finally, Spire Wealth Management lifted its stake in GraniteShares 2x Long NVDA Daily ETF by 3,483.3% during the 3rd quarter. Spire Wealth Management now owns 1,075 shares of the company’s stock valued at $101,000 after acquiring an additional 1,045 shares during the period.

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.