Traders Buy Large Volume of GraniteShares 2x Long NVDA Daily ETF Call Options (NASDAQ:NVDL)

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) was the target of some unusual options trading on Friday. Traders acquired 33,555 call options on the company. This represents an increase of 31% compared to the typical volume of 25,575 call options.

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

A number of hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. bought a new stake in GraniteShares 2x Long NVDA Daily ETF in the fourth quarter valued at approximately $30,804,000. Renaissance Technologies LLC acquired a new stake in GraniteShares 2x Long NVDA Daily ETF during the 1st quarter valued at approximately $5,907,000. Corient Private Wealth LLC bought a new position in GraniteShares 2x Long NVDA Daily ETF during the 2nd quarter worth approximately $1,831,000. Harvest Fund Management Co. Ltd raised its holdings in GraniteShares 2x Long NVDA Daily ETF by 105.0% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 41,152 shares of the company’s stock worth $3,622,000 after purchasing an additional 21,073 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in GraniteShares 2x Long NVDA Daily ETF by 412.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 22,410 shares of the company’s stock worth $2,098,000 after purchasing an additional 18,039 shares during the last quarter.

GraniteShares 2x Long NVDA Daily ETF Stock Up 8.1%

NASDAQ:NVDL traded up $2.47 during trading hours on Friday, hitting $33.03. 17,461,941 shares of the company were exchanged, compared to its average volume of 26,618,777. GraniteShares 2x Long NVDA Daily ETF has a one year low of $21.54 and a one year high of $43.27. The company has a fifty day simple moving average of $33.48 and a 200 day simple moving average of $30.17.

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.