GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) Shares Gap Down – Time to Sell?

GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL)’s share price gapped down prior to trading on Friday. The stock had previously closed at $65.12, but opened at $51.88. GraniteShares 2x Long AMD Daily ETF shares last traded at $53.8360, with a volume of 544,281 shares trading hands.

GraniteShares 2x Long AMD Daily ETF Stock Performance

The business has a 50-day simple moving average of $64.36 and a two-hundred day simple moving average of $44.86.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. IMC Chicago LLC acquired a new position in shares of GraniteShares 2x Long AMD Daily ETF during the 1st quarter worth about $1,726,000. Client First Investment Management LLC bought a new position in shares of GraniteShares 2x Long AMD Daily ETF in the 2nd quarter valued at about $1,097,000. Group One Trading LLC acquired a new stake in shares of GraniteShares 2x Long AMD Daily ETF in the first quarter valued at about $524,000. SBI Securities Co. Ltd. increased its position in shares of GraniteShares 2x Long AMD Daily ETF by 18.3% in the third quarter. SBI Securities Co. Ltd. now owns 4,014 shares of the company’s stock valued at $317,000 after acquiring an additional 621 shares during the last quarter. Finally, Thrive Wealth Management LLC acquired a new stake in shares of GraniteShares 2x Long AMD Daily ETF in the second quarter valued at about $238,000.

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.