Why GraniteShares 2x Long NVDA Daily ETF moves
GraniteShares 2x Long NVDA Daily ETF rose clearly.
Written after the close on ·
Why today
20,421 news analyzed todayGraniteShares 2x Long NVDA Daily ETF rose clearly.
The fund moved well ahead of the market, which rose only slightly over the same session.
A 2x leveraged fund aims to move about twice the daily change of Nvidia, so Nvidia-linked market moves likely drove the jump.
Heavy trading in the fund is also a common driver of sharp moves like this one.
Over the last five trading days the fund fell sharply, so the rise is a rebound within a larger drop.
Today's move of +5.38% was 1.9 times a normal day's 2.8%. S&P 500 moved +0.31% on the same day.
GraniteShares 2x Long NVDA Daily ETF +5.38%S&P 500 +0.31%Much stronger than the market
What the key figures say about GraniteShares 2x Long NVDA Daily ETF
The figures connect what GraniteShares 2x Long NVDA Daily ETF earns with what investors pay.
The line shows the share price in the same year, on its own scale.
Money paid to shareholders per share, summed by calendar year.
2023–2025: $0.00–$0.56.
What followed similar falls?
Including reinvested dividends, GraniteShares 2x Long NVDA Daily ETF fell 18.2% over the latest five trading days. Since December 13, 2022, falls at least this large were followed by a higher value 21 trading days later in 6 out of 10 non-overlapping periods. The median was +13.7%, against +5.9% for an ordinary 21-day period, which ended higher 63 times in 100.
Such a fall has not said much about the next month.
+13.7% · 6/10
$10,000 in GraniteShares 2x Long NVDA Daily ETF bought on December 13, 2022 is worth $182,000 today, with dividends reinvested.
The same amount in S&P 500 with dividends would have become $19,300.
What would $10,000 in GraniteShares 2x Long NVDA Daily ETF be worth today? →
What would $10,000 in GraniteShares 2x Long NVDA Daily ETF be worth today?
$182,000
with dividends reinvested, bought on December 13, 2022. The same amount in S&P 500 with dividends would have become $19,300.
At worst it was worth $6,770 (December 28, 2022).
The five biggest days of the journey
· +36.2% · the whole market rose 0.9% the same day
· +35.9% · the whole market rose 9.5% the same day
· −33.8% · the whole market fell 1.5% the same day
· +32.3% · the whole market rose 2.1% the same day
· +26.0% · the whole market rose 1.6% the same day
Earlier days
−18.60% market −4.41% GraniteShares 2x Long NVDA Daily ETF fell. Read →
GraniteShares 2x Long NVDA Daily ETF fell.
The fund's move was about six times a normal day for it, and such a large drop has not happened in the past year.
Trading was about three times its usual level.
The most likely driver is the broader market selloff, which a daily 2x leveraged fund amplifies, meaning it aims to move twice the daily change of its underlying stock.
Over the last five trading days it fell very sharply, about four times a normal stretch, and the S&P 500 also fell sharply.
−6.08% market +1.65% GraniteShares 2x Long NVDA Daily ETF fell, moving against the market. Read →
GraniteShares 2x Long NVDA Daily ETF fell, moving against the market.
No company news explains it.
Over the last five trading days it fell sharply, a big move for this fund, while the S&P 500 fell slightly.
Leveraged funds like this one, which aim for twice the daily move of Nvidia, usually swing harder than the stock itself.
+4.21% market +0.30% GraniteShares 2x Long NVDA Daily ETF rose, more than the market. Read →
GraniteShares 2x Long NVDA Daily ETF rose, more than the market.
The S&P 500 rose only slightly over the same day.
No company news explains the move.
The market mood and fund trading likely drove it.
Over the last five trading days the ETF fell clearly, while the S&P 500 also fell clearly.
−2.52% market −0.48% GraniteShares 2x Long NVDA Daily ETF fell without company news. Read →
GraniteShares 2x Long NVDA Daily ETF fell without company news.
The fund fell a little in the last session, within its usual daily range.
Over the same day the S&P 500 also fell slightly, so the move was mostly in line with the market.
Over the last five trading days the fund fell clearly, more than the broad market.
−8.32% market −1.77% GraniteShares 2x Long NVDA Daily ETF fell without company news. Read →
GraniteShares 2x Long NVDA Daily ETF fell without company news.
Over the same session the S&P 500 also fell sharply, so NVDL moved in line with the broad market, and its trading volume was about twice a normal day.
Over the last five trading days NVDL fell slightly, a little less than its usual daily swings would suggest.
Its share of the broad market moves matters most here: as a 2x leveraged fund, it tends to magnify moves in Nvidia and the wider market, so a sharp market decline shows up as a larger fall in this product.