GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Shares Down 5.3%

Shares of GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) traded down 5.3% during mid-day trading on Wednesday . The company traded as low as $31.52 and last traded at $31.70. 14,737,313 shares traded hands during trading, an increase of 26% from the average session volume of 11,737,753 shares. The stock had previously closed at $33.48.

GraniteShares 2x Long NVDA Daily ETF Trading Down 6.7 %

The business has a 50-day simple moving average of $35.31 and a 200-day simple moving average of $21.88.

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

Hedge funds and other institutional investors have recently made changes to their positions in the company. AlphaMark Advisors LLC purchased a new position in shares of GraniteShares 2x Long NVDA Daily ETF in the third quarter valued at approximately $34,000. Headlands Technologies LLC increased its stake in GraniteShares 2x Long NVDA Daily ETF by 567.6% during the fourth quarter. Headlands Technologies LLC now owns 494 shares of the company’s stock worth $44,000 after acquiring an additional 420 shares during the last quarter. NBC Securities Inc. acquired a new stake in GraniteShares 2x Long NVDA Daily ETF during the first quarter worth $59,000. Signaturefd LLC acquired a new stake in GraniteShares 2x Long NVDA Daily ETF during the third quarter worth $153,000. Finally, Capital CS Group LLC acquired a new stake in GraniteShares 2x Long NVDA Daily ETF during the fourth quarter worth $239,000.

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.