GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Trading Up 8% – Still a Buy?

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) shot up 8% on Wednesday . The stock traded as high as $36.64 and last traded at $36.43. Approximately 10,097,802 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 23,768,295 shares. The stock had previously closed at $33.72.

GraniteShares 2x Long NVDA Daily ETF Trading Up 8.8%

The stock has a 50 day moving average price of $31.94 and a two-hundred day moving average price of $31.17.

Institutional Trading of GraniteShares 2x Long NVDA Daily ETF

Several large investors have recently bought and sold shares of the stock. Vestor Capital LLC increased its stake in GraniteShares 2x Long NVDA Daily ETF by 3.9% during the 1st quarter. Vestor Capital LLC now owns 5,502 shares of the company’s stock valued at $399,000 after purchasing an additional 204 shares in the last quarter. Tactive Advisors LLC lifted its stake in shares of GraniteShares 2x Long NVDA Daily ETF by 8.1% during the first quarter. Tactive Advisors LLC now owns 3,403 shares of the company’s stock worth $247,000 after buying an additional 254 shares during the period. Parallel Advisors LLC lifted its stake in shares of GraniteShares 2x Long NVDA Daily ETF by 104.3% during the fourth quarter. Parallel Advisors LLC now owns 613 shares of the company’s stock worth $54,000 after buying an additional 313 shares during the period. Financial Life Planners purchased a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the first quarter valued at $25,000. Finally, Sigma Planning Corp grew its holdings in shares of GraniteShares 2x Long NVDA Daily ETF by 4.9% during the fourth quarter. Sigma Planning Corp now owns 11,645 shares of the company’s stock valued at $1,025,000 after buying an additional 545 shares during 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.