GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) Stock Jumps 9.6% – Should You Buy?

GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL)’s share price rose 9.6% during mid-day trading on Tuesday. The stock traded as high as $48.88 and last traded at $47.4640. Approximately 808,884 shares were traded during trading, a decline of 89% from the average daily volume of 7,312,399 shares. The stock had previously closed at $43.29.

GraniteShares 2x Long AMD Daily ETF Price Performance

The stock has a 50-day moving average price of $64.28 and a 200 day moving average price of $45.17.

Institutional Investors Weigh In On GraniteShares 2x Long AMD Daily ETF

A number of hedge funds have recently bought and sold shares of AMDL. SBI Securities Co. Ltd. raised its holdings in shares of GraniteShares 2x Long AMD Daily ETF by 18.3% during the third quarter. SBI Securities Co. Ltd. now owns 4,014 shares of the company’s stock worth $317,000 after purchasing an additional 621 shares during the period. Thrive Wealth Management LLC bought a new position in GraniteShares 2x Long AMD Daily ETF in the second quarter worth about $238,000. Client First Investment Management LLC acquired a new position in GraniteShares 2x Long AMD Daily ETF in the second quarter valued at approximately $1,097,000. Group One Trading LLC bought a new position in shares of GraniteShares 2x Long AMD Daily ETF during the first quarter valued at approximately $524,000. Finally, IMC Chicago LLC bought a new stake in shares of GraniteShares 2x Long AMD Daily ETF in the 1st quarter worth approximately $1,726,000.

GraniteShares 2x Long AMD Daily ETF Company Profile

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.