GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Trading 8.9% Higher – Here’s Why

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) shot up 8.9% during mid-day trading on Thursday . The company traded as high as $129.28 and last traded at $129.22. 6,506,191 shares traded hands during mid-day trading, a decline of 31% from the average session volume of 9,484,229 shares. The stock had previously closed at $118.67.

GraniteShares 2x Long NVDA Daily ETF Stock Up 9.0%

The firm’s 50 day simple moving average is $86.77 and its 200 day simple moving average is $87.76.

Institutional Investors Weigh In On GraniteShares 2x Long NVDA Daily ETF

Several large investors have recently made changes to their positions in NVDL. Financial Life Planners acquired a new stake in shares of GraniteShares 2x Long NVDA Daily ETF in the first quarter valued at approximately $25,000. Parallel Advisors LLC increased its stake 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 acquiring an additional 313 shares during the period. Chung Wu Investment Group LLC increased its stake in shares of 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 valued at $84,000 after acquiring an additional 700 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of GraniteShares 2x Long NVDA Daily ETF during the third quarter valued at approximately $88,000. Finally, CWM LLC acquired a new position in shares of GraniteShares 2x Long NVDA Daily ETF during the third quarter valued at approximately $94,000.

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.