GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Shares Down 13.6% – Here’s Why

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) dropped 13.6% during mid-day trading on Monday . The stock traded as low as $23.12 and last traded at $23.90. Approximately 14,367,738 shares traded hands during mid-day trading, a decline of 33% from the average daily volume of 21,454,667 shares. The stock had previously closed at $27.66.

GraniteShares 2x Long NVDA Daily ETF Stock Up 7.0 %

The company’s fifty day moving average is $48.75 and its 200 day moving average is $63.02.

Institutional Trading of GraniteShares 2x Long NVDA Daily ETF

A number of institutional investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc purchased a new stake in GraniteShares 2x Long NVDA Daily ETF in the 4th quarter worth approximately $27,000. Tower Research Capital LLC TRC boosted its stake in GraniteShares 2x Long NVDA Daily ETF by 26.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,088 shares of the company’s stock valued at $72,000 after buying an additional 229 shares during the period. Spire Wealth Management purchased a new position in GraniteShares 2x Long NVDA Daily ETF during the fourth quarter worth about $78,000. CoreCap Advisors LLC increased its stake in GraniteShares 2x Long NVDA Daily ETF by 530.0% in the 4th quarter. CoreCap Advisors LLC now owns 1,575 shares of the company’s stock worth $105,000 after acquiring an additional 1,325 shares during the last quarter. Finally, Larson Financial Group LLC raised its holdings in shares of GraniteShares 2x Long NVDA Daily ETF by 1,198.5% in the 4th quarter. Larson Financial Group LLC now owns 2,532 shares of the company’s stock valued at $168,000 after acquiring an additional 2,337 shares in the last quarter.

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.