GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Shares Gap Down – Should You Sell?

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) gapped down prior to trading on Wednesday . The stock had previously closed at $37.69, but opened at $32.57. GraniteShares 2x Long NVDA Daily ETF shares last traded at $33.23, with a volume of 11,834,845 shares changing hands.

GraniteShares 2x Long NVDA Daily ETF Stock Down 6.0 %

The firm’s 50 day simple moving average is $44.70 and its two-hundred day simple moving average is $61.15.

Institutional Trading of GraniteShares 2x Long NVDA Daily ETF

Several large investors have recently modified their holdings of the stock. Oriental Harbor Investment Fund bought a new position in GraniteShares 2x Long NVDA Daily ETF in the 3rd quarter valued at about $27,892,000. IMC Chicago LLC bought a new position in shares of GraniteShares 2x Long NVDA Daily ETF in the 1st quarter valued at $17,587,000. JPMorgan Chase & Co. lifted its position in shares of GraniteShares 2x Long NVDA Daily ETF by 456.7% during the 4th quarter. JPMorgan Chase & Co. now owns 436,970 shares of the company’s stock worth $29,010,000 after buying an additional 358,478 shares during the last quarter. Barclays PLC raised its stake in GraniteShares 2x Long NVDA Daily ETF by 50.4% during the third quarter. Barclays PLC now owns 142,652 shares of the company’s stock worth $8,301,000 after acquiring an additional 47,800 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its stake in shares of GraniteShares 2x Long NVDA Daily ETF by 1,006.7% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 128,102 shares of the company’s stock valued at $8,505,000 after purchasing an additional 116,527 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.