GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) Trading Down 3% – Should You Sell?

Shares of GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL) fell 3% during mid-day trading on Monday . The company traded as low as $64.61 and last traded at $65.27. 8,561,699 shares were traded during mid-day trading, a decline of 16% from the average session volume of 10,228,022 shares. The stock had previously closed at $67.26.

GraniteShares 2x Long NVDA Daily ETF Trading Down 3.0%

The firm’s 50-day moving average is $82.21 and its 200-day moving average is $86.84.

Hedge Funds Weigh In On GraniteShares 2x Long NVDA Daily ETF

Hedge funds have recently modified their holdings of the company. Parallel Advisors LLC boosted its holdings in GraniteShares 2x Long NVDA Daily ETF by 104.3% in the 4th 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. Sigma Planning Corp grew its holdings in GraniteShares 2x Long NVDA Daily ETF by 4.9% during the 4th 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 in the last quarter. Trinity Financial Advisors LLC grew its holdings in shares of GraniteShares 2x Long NVDA Daily ETF by 25.5% in the fourth quarter. Trinity Financial Advisors LLC now owns 3,013 shares of the company’s stock valued at $265,000 after purchasing an additional 613 shares in the last quarter. Chung Wu Investment Group LLC grew its stake in shares of GraniteShares 2x Long NVDA Daily ETF by 350.0% in the 3rd quarter. Chung Wu Investment Group LLC now owns 900 shares of the company’s stock worth $84,000 after buying an additional 700 shares in the last quarter. Finally, Osaic Holdings Inc. increased its stake in GraniteShares 2x Long NVDA Daily ETF by 49.7% during the second quarter. Osaic Holdings Inc. now owns 2,375 shares of the company’s stock worth $167,000 after acquiring an additional 788 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.