GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Shares Gap Up – Here’s Why

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $71.58, but opened at $75.52. GraniteShares 2x Long NVDA Daily ETF shares last traded at $77.45, with a volume of 5,624,740 shares.

GraniteShares 2x Long NVDA Daily ETF Price Performance

The firm’s 50-day simple moving average is $71.44 and its 200 day simple moving average is $66.27.

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

A number of institutional investors and hedge funds have recently modified their holdings of the stock. XTX Topco Ltd purchased a new position in GraniteShares 2x Long NVDA Daily ETF in the 2nd quarter worth about $226,000. Silver Lake Advisory LLC purchased a new position in shares of GraniteShares 2x Long NVDA Daily ETF in the second quarter worth approximately $264,000. Creative Planning acquired a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the second quarter valued at approximately $314,000. Heritage Oak Wealth Advisors LLC purchased a new stake in shares of GraniteShares 2x Long NVDA Daily ETF in the 2nd quarter valued at approximately $522,000. Finally, Brookstone Capital Management lifted its position in shares of GraniteShares 2x Long NVDA Daily ETF by 75.4% in the 3rd quarter. Brookstone Capital Management now owns 37,858 shares of the company’s stock valued at $2,203,000 after acquiring an additional 16,269 shares in 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.