GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Shares Gap Down – What’s Next?

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) shares gapped down prior to trading on Thursday. The stock had previously closed at $20.40, but opened at $15.04. GraniteShares 2x Long NVDA Daily ETF shares last traded at $17.1370, with a volume of 60,931,916 shares.

GraniteShares 2x Long NVDA Daily ETF Price Performance

The company has a 50 day simple moving average of $33.20 and a 200-day simple moving average of $31.55.

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

Several hedge funds and other institutional investors have recently modified their holdings of the company. HighTower Advisors LLC bought a new position in GraniteShares 2x Long NVDA Daily ETF during the 3rd quarter valued at approximately $900,000. King Luther Capital Management Corp purchased a new stake in GraniteShares 2x Long NVDA Daily ETF in the 3rd quarter worth approximately $580,000. Vestor Capital LLC purchased a new stake in GraniteShares 2x Long NVDA Daily ETF in the 3rd quarter worth approximately $5,474,000. IFP Advisors Inc bought a new stake in shares of GraniteShares 2x Long NVDA Daily ETF in the 3rd quarter worth approximately $26,000. Finally, Vilga Financial Planning LLC bought a new stake in shares of GraniteShares 2x Long NVDA Daily ETF in the 3rd quarter worth approximately $220,000.

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.