GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Trading Up 6.5% – Should You Buy?

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) traded up 6.5% during trading on Wednesday . The company traded as high as $30.89 and last traded at $30.80. Approximately 15,720,137 shares traded hands during trading, a decline of 41% from the average session volume of 26,729,203 shares. The stock had previously closed at $28.91.

GraniteShares 2x Long NVDA Daily ETF Price Performance

The stock’s 50-day simple moving average is $33.72 and its two-hundred day simple moving average is $30.09.

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

A number of institutional investors have recently bought and sold shares of NVDL. NewEdge Advisors LLC raised its position in shares of 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 buying an additional 15,931 shares during the last quarter. Diversify Advisory Services LLC purchased a new position in GraniteShares 2x Long NVDA Daily ETF during the second quarter worth $183,000. Josh Arnold Investment Consultant LLC bought a new position in 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 second quarter valued at approximately $409,000. Finally, Snowden Capital Advisors LLC bought a new position in GraniteShares 2x Long NVDA Daily ETF in the 2nd quarter valued at $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.