GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) Trading Down 8.6% – Here’s What Happened

GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL)’s share price fell 8.6% during trading on Wednesday . The stock traded as low as $52.07 and last traded at $52.91. 1,585,854 shares were traded during trading, a decline of 86% from the average session volume of 11,437,612 shares. The stock had previously closed at $57.89.

GraniteShares 2x Long AMD Daily ETF Trading Up 16.3%

The firm has a 50-day simple moving average of $41.89 and a 200 day simple moving average of $24.44.

Hedge Funds Weigh In On GraniteShares 2x Long AMD Daily ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMDL. Osaic Holdings Inc. lifted its position in 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 valued at $52,000 after buying an additional 1,645 shares during the period. HUB Investment Partners LLC purchased a new position in shares of GraniteShares 2x Long AMD Daily ETF in the 2nd quarter worth about $108,000. Balboa Wealth Partners purchased a new position in shares of GraniteShares 2x Long AMD Daily ETF in the 1st quarter worth about $122,000. Financial Engines Advisors L.L.C. purchased a new position in shares of GraniteShares 2x Long AMD Daily ETF in the 3rd quarter worth about $149,000. Finally, CreativeOne Wealth LLC purchased a new position in shares of GraniteShares 2x Long AMD Daily ETF in the 3rd quarter worth about $157,000.

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.