GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Shares Gap Down to $73.03

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) gapped down prior to trading on Thursday . The stock had previously closed at $73.03, but opened at $70.30. GraniteShares 2x Long NVDA Daily ETF shares last traded at $71.55, with a volume of 2,636,104 shares changing hands.

GraniteShares 2x Long NVDA Daily ETF Price Performance

The stock’s 50-day moving average is $54.72 and its 200 day moving average is $36.00.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC grew its position in shares of GraniteShares 2x Long NVDA Daily ETF by 567.6% in the 4th quarter. Headlands Technologies LLC now owns 494 shares of the company’s stock valued at $44,000 after buying an additional 420 shares during the last quarter. AlphaMark Advisors LLC grew its position in shares of GraniteShares 2x Long NVDA Daily ETF by 65.9% in the 4th quarter. AlphaMark Advisors LLC now owns 667 shares of the company’s stock valued at $60,000 after buying an additional 265 shares during the last quarter. NBC Securities Inc. purchased a new position in shares of GraniteShares 2x Long NVDA Daily ETF in the 1st quarter valued at $59,000. Cherry Tree Wealth Management LLC purchased a new position in shares of GraniteShares 2x Long NVDA Daily ETF in the 1st quarter valued at $95,000. Finally, Capital CS Group LLC purchased a new position in shares of GraniteShares 2x Long NVDA Daily ETF in the 4th quarter valued at $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.