GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Stock Jumps 11.1% – Here’s Why

GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) shot up 11.1% during mid-day trading on Friday. The stock traded as high as $25.73 and last traded at $25.0040. Approximately 5,125,530 shares were traded during trading, a decline of 75% from the average session volume of 20,769,051 shares. The stock had previously closed at $22.50.

GraniteShares 2x Long NVDA Daily ETF Stock Performance

The stock’s 50-day simple moving average is $34.29 and its two-hundred day simple moving average is $31.68.

Institutional Trading of GraniteShares 2x Long NVDA Daily ETF

A number of large investors have recently modified their holdings of the company. King Luther Capital Management Corp bought a new position in GraniteShares 2x Long NVDA Daily ETF during the 3rd quarter worth about $580,000. Vestor Capital LLC purchased a new position in shares of GraniteShares 2x Long NVDA Daily ETF in the third quarter worth about $5,474,000. IFP Advisors Inc acquired a new position in GraniteShares 2x Long NVDA Daily ETF during the third quarter valued at $26,000. Vilga Financial Planning LLC acquired a new position in GraniteShares 2x Long NVDA Daily ETF in the third quarter valued at approximately $220,000. Finally, Tactive Advisors LLC boosted its stake in shares of GraniteShares 2x Long NVDA Daily ETF by 3.6% during the 3rd quarter. Tactive Advisors LLC now owns 17,259 shares of the company’s stock worth $634,000 after acquiring an additional 600 shares in 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.