GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Stock Price Down 3.8% – Should You Sell?

Shares of GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) were down 3.8% during trading on Monday . The company traded as low as $45.62 and last traded at $45.48. Approximately 11,624,800 shares were traded during trading, a decline of 45% from the average daily volume of 21,013,621 shares. The stock had previously closed at $47.29.

GraniteShares 2x Long NVDA Daily ETF Stock Performance

The business’s 50 day moving average is $57.83 and its 200 day moving average is $64.20.

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

Several large investors have recently bought and sold shares of the stock. Josh Arnold Investment Consultant LLC boosted its stake in GraniteShares 2x Long NVDA Daily ETF by 88.2% in the fourth quarter. Josh Arnold Investment Consultant LLC now owns 26,725 shares of the company’s stock valued at $1,774,000 after acquiring an additional 12,525 shares in the last quarter. Snowden Capital Advisors LLC acquired a new position in GraniteShares 2x Long NVDA Daily ETF in the fourth quarter valued at $256,000. CoreCap Advisors LLC boosted its stake in shares of GraniteShares 2x Long NVDA Daily ETF by 530.0% during the fourth quarter. CoreCap Advisors LLC now owns 1,575 shares of the company’s stock worth $105,000 after buying an additional 1,325 shares during the period. Cresset Asset Management LLC boosted its stake in shares of GraniteShares 2x Long NVDA Daily ETF by 20.7% during the fourth quarter. Cresset Asset Management LLC now owns 7,000 shares of the company’s stock worth $465,000 after buying an additional 1,200 shares during the period. Finally, Mercer Global Advisors Inc. ADV boosted its stake in shares of GraniteShares 2x Long NVDA Daily ETF by 1,006.7% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 128,102 shares of the company’s stock worth $8,505,000 after buying an additional 116,527 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.