GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Shares Gap Down – What’s Next?

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) gapped down before the market opened on Monday . The stock had previously closed at $73.11, but opened at $54.92. GraniteShares 2x Long NVDA Daily ETF shares last traded at $54.42, with a volume of 32,386,186 shares changing hands.

GraniteShares 2x Long NVDA Daily ETF Stock Down 32.1 %

The firm has a 50 day moving average price of $71.29 and a two-hundred day moving average price of $66.14.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd bought a new position in GraniteShares 2x Long NVDA Daily ETF in the 2nd quarter valued at $226,000. Silver Lake Advisory LLC bought a new position in shares of GraniteShares 2x Long NVDA Daily ETF in the second quarter valued at about $264,000. Creative Planning acquired a new position in GraniteShares 2x Long NVDA Daily ETF during the 2nd quarter worth about $314,000. Heritage Oak Wealth Advisors LLC acquired a new position in GraniteShares 2x Long NVDA Daily ETF during the 2nd quarter worth about $522,000. Finally, Brookstone Capital Management grew its holdings in GraniteShares 2x Long NVDA Daily ETF by 75.4% during the 3rd quarter. Brookstone Capital Management now owns 37,858 shares of the company’s stock worth $2,203,000 after acquiring an additional 16,269 shares during the last quarter.

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.