GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) Shares Up 12.6% – Here’s What Happened

GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL)’s stock price shot up 12.6% during trading on Tuesday . The company traded as high as $65.37 and last traded at $65.20. 5,871,274 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 12,088,939 shares. The stock had previously closed at $57.88.

GraniteShares 2x Long AMD Daily ETF Price Performance

The stock has a 50-day moving average price of $28.16 and a 200 day moving average price of $20.30.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. boosted its holdings in GraniteShares 2x Long AMD Daily ETF by 36.6% in the second quarter. Osaic Holdings Inc. now owns 6,145 shares of the company’s stock valued at $52,000 after acquiring an additional 1,645 shares during the last quarter. HUB Investment Partners LLC acquired a new position in GraniteShares 2x Long AMD Daily ETF in the second quarter valued at $108,000. Balboa Wealth Partners acquired a new position in shares of GraniteShares 2x Long AMD Daily ETF during the first quarter worth about $122,000. Financial Engines Advisors L.L.C. acquired a new position in shares of GraniteShares 2x Long AMD Daily ETF during the third quarter worth about $149,000. Finally, CreativeOne Wealth LLC acquired a new position in shares of GraniteShares 2x Long AMD Daily ETF during the third quarter worth about $157,000.

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.