GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Sets New 52-Week High – Should You Buy?

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $119.92 and last traded at $116.56, with a volume of 3634166 shares trading hands. The stock had previously closed at $113.53.

GraniteShares 2x Long NVDA Daily ETF Stock Up 8.7%

The stock has a fifty day moving average of $87.78 and a 200 day moving average of $88.02.

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

Several hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC grew its stake in GraniteShares 2x Long NVDA Daily ETF by 119.5% during the first 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 in the last quarter. Diversify Advisory Services LLC purchased a new stake in GraniteShares 2x Long NVDA Daily ETF in the 2nd quarter worth $183,000. Josh Arnold Investment Consultant LLC bought a new position in shares of GraniteShares 2x Long NVDA Daily ETF during the 2nd quarter valued at about $481,000. EP Wealth Advisors LLC bought a new position in shares of GraniteShares 2x Long NVDA Daily ETF during the 2nd quarter valued at about $409,000. Finally, Snowden Capital Advisors LLC purchased a new position in shares of GraniteShares 2x Long NVDA Daily ETF during the second quarter valued at about $272,000.

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.