GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Stock Price Down 9% – Should You Sell?

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL)’s share price traded down 9% during mid-day trading on Thursday . The company traded as low as $83.25 and last traded at $85.6170. 12,289,815 shares traded hands during mid-day trading, an increase of 20% from the average session volume of 10,262,402 shares. The stock had previously closed at $94.06.

GraniteShares 2x Long NVDA Daily ETF Stock Performance

The business has a 50-day simple moving average of $86.84 and a two-hundred day simple moving average of $88.02.

Institutional Trading of GraniteShares 2x Long NVDA Daily ETF

A number of large investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its position in shares of GraniteShares 2x Long NVDA Daily ETF by 104.3% in the 4th quarter. Parallel Advisors LLC now owns 613 shares of the company’s stock valued at $54,000 after acquiring an additional 313 shares during the period. Chung Wu Investment Group LLC grew its holdings in GraniteShares 2x Long NVDA Daily ETF by 350.0% during the third quarter. Chung Wu Investment Group LLC now owns 900 shares of the company’s stock worth $84,000 after purchasing an additional 700 shares during the period. Wilmington Savings Fund Society FSB bought a new position in GraniteShares 2x Long NVDA Daily ETF during the third quarter worth about $88,000. CWM LLC acquired a new position in GraniteShares 2x Long NVDA Daily ETF during the third quarter worth approximately $94,000. Finally, Spire Wealth Management raised its stake in GraniteShares 2x Long NVDA Daily ETF by 3,483.3% in the third quarter. Spire Wealth Management now owns 1,075 shares of the company’s stock valued at $101,000 after buying an additional 1,045 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.