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

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $103.32, but opened at $99.28. GraniteShares 2x Long NVDA Daily ETF shares last traded at $96.0210, with a volume of 5,159,383 shares trading hands.

GraniteShares 2x Long NVDA Daily ETF Stock Performance

The stock’s 50 day moving average is $90.79 and its 200-day moving average is $75.72.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Diversify Wealth Management LLC raised its position in GraniteShares 2x Long NVDA Daily ETF by 4.7% during the first quarter. Diversify Wealth Management LLC now owns 15,704 shares of the company’s stock valued at $548,000 after purchasing an additional 704 shares during the period. Signaturefd LLC purchased a new stake in GraniteShares 2x Long NVDA Daily ETF during the 1st quarter valued at $112,000. Sigma Planning Corp raised its holdings in GraniteShares 2x Long NVDA Daily ETF by 26.7% during the 1st quarter. Sigma Planning Corp now owns 11,045 shares of the company’s stock valued at $413,000 after buying an additional 2,326 shares during the period. Larson Financial Group LLC lifted its position in GraniteShares 2x Long NVDA Daily ETF by 77.4% in the first quarter. Larson Financial Group LLC now owns 4,492 shares of the company’s stock worth $168,000 after buying an additional 1,960 shares during the last quarter. Finally, IFP Advisors Inc boosted its stake in GraniteShares 2x Long NVDA Daily ETF by 150.0% during the first quarter. IFP Advisors Inc now owns 1,000 shares of the company’s stock worth $37,000 after buying an additional 600 shares during the period.

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.