GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Shares Down 5.3%

Shares of GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) were down 5.3% during mid-day trading on Wednesday . The stock traded as low as $31.52 and last traded at $31.70. Approximately 14,737,313 shares traded hands during trading, an increase of 26% from the average daily volume of 11,737,753 shares. The stock had previously closed at $33.48.

GraniteShares 2x Long NVDA Daily ETF Trading Down 6.7 %

The firm has a fifty day moving average price of $35.31 and a 200-day moving average price of $21.88.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. AlphaMark Advisors LLC purchased a new stake in shares of GraniteShares 2x Long NVDA Daily ETF during the third quarter worth about $34,000. Headlands Technologies LLC increased its position in shares of GraniteShares 2x Long NVDA Daily ETF by 567.6% during the fourth quarter. Headlands Technologies LLC now owns 494 shares of the company’s stock worth $44,000 after acquiring an additional 420 shares during the last quarter. NBC Securities Inc. acquired a new position in GraniteShares 2x Long NVDA Daily ETF in the first quarter worth about $59,000. Signaturefd LLC acquired a new position in GraniteShares 2x Long NVDA Daily ETF in the third quarter worth about $153,000. Finally, Capital CS Group LLC acquired a new position in GraniteShares 2x Long NVDA Daily ETF in the fourth quarter worth about $239,000.

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.