GraniteShares 2x Long NVDA ETF Sees Significant Outflow This Week

Week-Over-Week Changes Reflect Market Dynamics

In the latest analysis of week-over-week changes among Exchange Traded Funds (ETFs) at ETF Channel, the GraniteShares 2x Long NVDA Daily ETF (Symbol: NVDL) has made headlines. The fund experienced an outflow of approximately $235.5 million, marking a 4.3% drop in shares outstanding from 76,190,006 to 72,900,006.

The chart below illustrates NVDL’s price performance over the past year against its 200-day moving average:

From the chart, one can see that NVDL’s share price reached a low of $18.8933 in the past 52 weeks, while the high point soared to $91.70. Currently, the most recent share price is $77.45. Analyzing the recent share price in relation to the 200-day moving average can be an effective strategy for technical analysis. Learn more about the 200-day moving average.

Exchange traded funds (ETFs) function similarly to stocks. However, investors trade “units” instead of “shares.” These units can be exchanged just like stocks, but they can also be created or destroyed based on investor interest. Every week, we observe the changes in shares outstanding to identify ETFs with significant inflows or outflows. The creation of new units means purchasing the underlying assets, while the destruction involves selling them, influencing the individual components within the ETFs.

Click here to find out which 9 other ETFs experienced notable outflows.

Also see:

• PMR Historical Stock Prices
• UAUA Videos
• Funds Holding JQUA

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