GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) Shares Down 13.2% – Here’s Why

GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL)’s stock price traded down 13.2% during mid-day trading on Thursday . The company traded as low as $20.85 and last traded at $20.5440. 7,779,764 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 26,836,848 shares. The stock had previously closed at $23.66.

GraniteShares 2x Long AMD Daily ETF Stock Down 3.6%

The firm has a fifty day simple moving average of $15.55 and a 200-day simple moving average of $10.72.

Institutional Trading of GraniteShares 2x Long AMD Daily ETF

Several hedge funds have recently bought and sold shares of the stock. GatePass Capital LLC bought a new position in GraniteShares 2x Long AMD Daily ETF in the second quarter valued at approximately $426,000. Osaic Holdings Inc. raised its holdings in shares of GraniteShares 2x Long AMD Daily ETF by 36.6% during the second quarter. Osaic Holdings Inc. now owns 6,145 shares of the company’s stock worth $52,000 after acquiring an additional 1,645 shares during the period. Group One Trading LLC lifted its position in GraniteShares 2x Long AMD Daily ETF by 261.5% in the 2nd quarter. Group One Trading LLC now owns 743,626 shares of the company’s stock valued at $6,328,000 after acquiring an additional 537,911 shares in the last quarter. HUB Investment Partners LLC acquired a new position in GraniteShares 2x Long AMD Daily ETF in the 2nd quarter worth $108,000. Finally, NewEdge Advisors LLC bought a new position in GraniteShares 2x Long AMD Daily ETF during the 2nd quarter worth about $359,000.

About GraniteShares 2x Long AMD Daily ETF

The GraniteShares 2x Long AMD Daily ETF (AMDL) is an exchange-traded fund that mostly invests in information technology equity. The fund provides 2x leveraged exposure, less fees and expenses, to the daily price movement for shares of Advanced Micro Devices stock. AMDL was launched on Mar 4, 2024 and is issued by GraniteShares.