GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Shares Up 7.2% – Still a Buy?

Shares of GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) shot up 7.2% during trading on Friday . The company traded as high as $101.39 and last traded at $101.08. 4,163,724 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 9,463,024 shares. The stock had previously closed at $94.25.

GraniteShares 2x Long NVDA Daily ETF Price Performance

The stock has a 50 day moving average of $82.04 and a 200 day moving average of $86.54.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its position in GraniteShares 2x Long NVDA Daily ETF by 412.7% in the third quarter. JPMorgan Chase & Co. now owns 22,410 shares of the company’s stock valued at $2,098,000 after acquiring an additional 18,039 shares during the last quarter. Stevens Capital Management LP bought a new position in GraniteShares 2x Long NVDA Daily ETF in the third quarter valued at about $3,895,000. Woodward Diversified Capital LLC bought a new position in GraniteShares 2x Long NVDA Daily ETF in the third quarter valued at about $1,690,000. APEIRON CAPITAL Ltd bought a new position in GraniteShares 2x Long NVDA Daily ETF in the third quarter valued at about $88,003,000. Finally, HUB Investment Partners LLC bought a new position in GraniteShares 2x Long NVDA Daily ETF in the third quarter valued at about $9,034,000.

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.