GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Shares Down 7.4% – Time to Sell?

Shares of GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) were down 7.4% on Friday . The stock traded as low as $28.86 and last traded at $29.44. Approximately 4,093,526 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 26,072,049 shares. The stock had previously closed at $31.79.

GraniteShares 2x Long NVDA Daily ETF Trading Down 3.0%

The firm’s 50-day moving average price is $33.47 and its 200-day moving average price is $30.24.

Institutional Trading of GraniteShares 2x Long NVDA Daily ETF

Hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its position in shares of GraniteShares 2x Long NVDA Daily ETF by 412.7% during the third quarter. JPMorgan Chase & Co. now owns 22,410 shares of the company’s stock valued at $2,098,000 after purchasing an additional 18,039 shares in the last quarter. Harvest Fund Management Co. Ltd lifted its position in shares of GraniteShares 2x Long NVDA Daily ETF by 105.0% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 41,152 shares of the company’s stock worth $3,622,000 after buying an additional 21,073 shares in the last quarter. Vestor Capital LLC lifted its position in shares of GraniteShares 2x Long NVDA Daily ETF by 3.9% in the first quarter. Vestor Capital LLC now owns 5,502 shares of the company’s stock worth $399,000 after buying an additional 204 shares in the last quarter. Sigma Planning Corp boosted its stake in GraniteShares 2x Long NVDA Daily ETF by 28.3% during the first quarter. Sigma Planning Corp now owns 14,945 shares of the company’s stock valued at $1,085,000 after buying an additional 3,300 shares during the last quarter. Finally, Diversify Wealth Management LLC boosted its stake in GraniteShares 2x Long NVDA Daily ETF by 43.3% during the first quarter. Diversify Wealth Management LLC now owns 21,672 shares of the company’s stock valued at $1,573,000 after buying an additional 6,546 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.