GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Shares Gap Up – Still a Buy?

Shares of GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) gapped up prior to trading on Friday . The stock had previously closed at $70.30, but opened at $71.98. GraniteShares 2x Long NVDA Daily ETF shares last traded at $75.20, with a volume of 3,984,312 shares traded.

GraniteShares 2x Long NVDA Daily ETF Stock Up 7.3 %

The company has a fifty day simple moving average of $73.41 and a two-hundred day simple moving average of $66.69.

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

Large investors have recently added to or reduced their stakes in the business. Oriental Harbor Investment Fund acquired a new position in shares of GraniteShares 2x Long NVDA Daily ETF in the 3rd quarter valued at $27,892,000. Barclays PLC raised its position in shares of GraniteShares 2x Long NVDA Daily ETF by 50.4% in 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. Brookstone Capital Management boosted its holdings in GraniteShares 2x Long NVDA Daily ETF by 75.4% in the third quarter. Brookstone Capital Management now owns 37,858 shares of the company’s stock valued at $2,203,000 after acquiring an additional 16,269 shares during the last quarter. Josh Arnold Investment Consultant LLC purchased a new stake in GraniteShares 2x Long NVDA Daily ETF during the third quarter valued at about $826,000. Finally, Creative Planning increased its stake in GraniteShares 2x Long NVDA Daily ETF by 299.8% during the third quarter. Creative Planning now owns 18,038 shares of the company’s stock worth $1,050,000 after acquiring an additional 13,526 shares during the last quarter.

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.