GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Trading Down 4.6% – Here’s What Happened

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) fell 4.6% during trading on Wednesday . The stock traded as low as $83.25 and last traded at $82.9340. 2,360,505 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 8,576,372 shares. The stock had previously closed at $86.96.

GraniteShares 2x Long NVDA Daily ETF Trading Down 3.8%

The company’s fifty day simple moving average is $87.33 and its 200-day simple moving average is $86.97.

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

Large investors have recently bought and sold shares of the company. Trinity Financial Advisors LLC lifted its position in shares of GraniteShares 2x Long NVDA Daily ETF by 25.5% in the fourth quarter. Trinity Financial Advisors LLC now owns 3,013 shares of the company’s stock valued at $265,000 after acquiring an additional 613 shares in the last quarter. Chung Wu Investment Group LLC raised its stake in GraniteShares 2x Long NVDA Daily ETF by 350.0% in the 3rd quarter. Chung Wu Investment Group LLC now owns 900 shares of the company’s stock valued at $84,000 after purchasing an additional 700 shares during the last quarter. Osaic Holdings Inc. lifted its holdings in GraniteShares 2x Long NVDA Daily ETF by 49.7% in the 2nd quarter. Osaic Holdings Inc. now owns 2,375 shares of the company’s stock valued at $167,000 after purchasing an additional 788 shares in the last quarter. Hoey Investments Inc. boosted its stake in GraniteShares 2x Long NVDA Daily ETF by 2.5% during the 2nd quarter. Hoey Investments Inc. now owns 36,656 shares of the company’s stock worth $2,581,000 after purchasing an additional 905 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the third quarter worth $88,000.

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.