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

Shares of GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) gapped up before the market opened on Tuesday. The stock had previously closed at $28.24, but opened at $29.83. GraniteShares 2x Long NVDA Daily ETF shares last traded at $29.6630, with a volume of 1,930,629 shares changing hands.

GraniteShares 2x Long NVDA Daily ETF Stock Down 18.7%

The business has a 50 day moving average price of $34.47 and a 200 day moving average price of $31.72.

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

Several large investors have recently modified their holdings of NVDL. IFP Advisors Inc purchased a new position in shares of GraniteShares 2x Long NVDA Daily ETF in the third quarter worth $26,000. Integrated Wealth Concepts LLC purchased a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the second quarter valued at $43,000. CoreCap Advisors LLC boosted its position in shares of GraniteShares 2x Long NVDA Daily ETF by 200.0% during the second quarter. CoreCap Advisors LLC now owns 3,462 shares of the company’s stock valued at $103,000 after buying an additional 2,308 shares during the last quarter. Vilga Financial Planning LLC purchased a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the third quarter valued at $220,000. Finally, Turner Financial Group Inc. purchased a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the second quarter valued at $303,000.

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.