GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Trading 3.7% Higher – Still a Buy?

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) shares traded up 3.7% during mid-day trading on Tuesday . The stock traded as high as $78.26 and last traded at $77.46. 3,769,502 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 17,776,857 shares. The stock had previously closed at $74.68.

GraniteShares 2x Long NVDA Daily ETF Trading Up 6.0 %

The stock’s 50 day simple moving average is $67.90 and its 200 day simple moving average is $62.84.

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

Several large investors have recently modified their holdings of the stock. Jane Street Group LLC bought a new stake in GraniteShares 2x Long NVDA Daily ETF during the 1st quarter valued at $10,343,000. Sequoia Financial Advisors LLC acquired a new stake in shares of GraniteShares 2x Long NVDA Daily ETF in the second quarter worth $209,000. Silver Lake Advisory LLC acquired a new position in GraniteShares 2x Long NVDA Daily ETF in the 2nd quarter valued at approximately $264,000. Brookstone Capital Management acquired a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the 2nd quarter valued at about $1,502,000. Finally, Nisa Investment Advisors LLC bought a new stake in GraniteShares 2x Long NVDA Daily ETF in the second quarter valued at $7,518,000.

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.