GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Sees Strong Trading Volume – Still a Buy?

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) shares saw strong trading volume on Wednesday. Approximately 24,326,893 shares traded hands during mid-day trading, an increase of 15% from the average daily volume of 21,172,676 shares. The stock last traded at $20.8160 and had previously closed at $19.28.

GraniteShares 2x Long NVDA Daily ETF Price Performance

The company’s 50-day simple moving average is $33.47 and its 200 day simple moving average is $31.59.

Institutional Investors Weigh In On GraniteShares 2x Long NVDA Daily ETF

Several institutional investors and hedge funds have recently modified their holdings of NVDL. Vestor Capital LLC acquired a new position in GraniteShares 2x Long NVDA Daily ETF during the third quarter worth $5,474,000. Corient Private Wealth LP acquired a new stake in shares of GraniteShares 2x Long NVDA Daily ETF in the second quarter worth about $2,777,000. Renaissance Technologies LLC acquired a new position in shares of GraniteShares 2x Long NVDA Daily ETF during the 1st quarter valued at about $5,907,000. HighTower Advisors LLC acquired a new position in shares of GraniteShares 2x Long NVDA Daily ETF during the 3rd quarter valued at about $900,000. Finally, Persium Advisors LLC acquired a new position in shares of GraniteShares 2x Long NVDA Daily ETF during the 3rd quarter valued at about $844,000.

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.