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

Shares of GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) gapped up prior to trading on Monday . The stock had previously closed at $60.37, but opened at $62.58. GraniteShares 2x Long NVDA Daily ETF shares last traded at $59.00, with a volume of 8,290,193 shares traded.

GraniteShares 2x Long NVDA Daily ETF Price Performance

The stock has a 50 day moving average of $64.66 and a 200-day moving average of $65.70.

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

A number of institutional investors have recently modified their holdings of the stock. Josh Arnold Investment Consultant LLC raised its stake in shares of GraniteShares 2x Long NVDA Daily ETF by 88.2% during the 4th quarter. Josh Arnold Investment Consultant LLC now owns 26,725 shares of the company’s stock valued at $1,774,000 after buying an additional 12,525 shares during the last quarter. Snowden Capital Advisors LLC purchased a new position in shares of GraniteShares 2x Long NVDA Daily ETF during the 4th quarter valued at about $256,000. CoreCap Advisors LLC raised its stake in shares of GraniteShares 2x Long NVDA Daily ETF by 530.0% during the 4th quarter. CoreCap Advisors LLC now owns 1,575 shares of the company’s stock valued at $105,000 after buying an additional 1,325 shares during the last quarter. Cresset Asset Management LLC raised its stake in shares of GraniteShares 2x Long NVDA Daily ETF by 20.7% during the 4th quarter. Cresset Asset Management LLC now owns 7,000 shares of the company’s stock valued at $465,000 after buying an additional 1,200 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its stake in shares of GraniteShares 2x Long NVDA Daily ETF by 1,006.7% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 128,102 shares of the company’s stock valued at $8,505,000 after buying an additional 116,527 shares during the last quarter.

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.