GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Trading 8% Higher – Time to Buy?

Shares of GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) traded up 8% on Wednesday . The company traded as high as $36.64 and last traded at $36.43. 10,097,802 shares were traded during mid-day trading, a decline of 58% from the average session volume of 23,768,295 shares. The stock had previously closed at $33.72.

GraniteShares 2x Long NVDA Daily ETF Stock Up 8.8%

The firm has a 50 day moving average price of $31.94 and a 200-day moving average price of $31.17.

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

Institutional investors have recently bought and sold shares of the business. NewEdge Advisors LLC lifted its stake in GraniteShares 2x Long NVDA Daily ETF by 119.5% during the 1st quarter. NewEdge Advisors LLC now owns 29,264 shares of the company’s stock valued at $1,094,000 after acquiring an additional 15,931 shares during the period. Diversify Advisory Services LLC acquired a new stake in shares of GraniteShares 2x Long NVDA Daily ETF in the second quarter worth $183,000. Josh Arnold Investment Consultant LLC purchased a new position in shares of GraniteShares 2x Long NVDA Daily ETF during the second quarter worth $481,000. EP Wealth Advisors LLC purchased a new position in shares of GraniteShares 2x Long NVDA Daily ETF during the second quarter worth $409,000. Finally, Snowden Capital Advisors LLC acquired a new position in GraniteShares 2x Long NVDA Daily ETF during the second quarter valued at $272,000.

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.