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

Shares of GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) gapped down prior to trading on Tuesday . The stock had previously closed at $103.32, but opened at $99.28. GraniteShares 2x Long NVDA Daily ETF shares last traded at $96.0210, with a volume of 5,159,383 shares.

GraniteShares 2x Long NVDA Daily ETF Trading Down 5.7%

The stock has a fifty day simple moving average of $90.79 and a 200 day simple moving average of $75.72.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Chung Wu Investment Group LLC lifted 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 worth $84,000 after purchasing an additional 700 shares in the last quarter. IFP Advisors Inc lifted its position in shares of GraniteShares 2x Long NVDA Daily ETF by 150.0% in the first quarter. IFP Advisors Inc now owns 1,000 shares of the company’s stock worth $37,000 after buying an additional 600 shares in the last quarter. CWM LLC bought a new position in GraniteShares 2x Long NVDA Daily ETF during the third quarter valued at approximately $94,000. Spire Wealth Management boosted its stake in GraniteShares 2x Long NVDA Daily ETF by 3,483.3% during the third quarter. Spire Wealth Management now owns 1,075 shares of the company’s stock valued at $101,000 after buying an additional 1,045 shares during the last quarter. Finally, Headlands Technologies LLC grew its holdings in GraniteShares 2x Long NVDA Daily ETF by 953.1% during the 2nd quarter. Headlands Technologies LLC now owns 1,685 shares of the company’s stock valued at $119,000 after buying an additional 1,525 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.