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

GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $66.74, but opened at $73.03. GraniteShares 2x Long AMD Daily ETF shares last traded at $66.57, with a volume of 903,177 shares traded.

GraniteShares 2x Long AMD Daily ETF Stock Performance

The firm has a 50 day simple moving average of $51.64 and a 200-day simple moving average of $27.83.

Institutional Trading of GraniteShares 2x Long AMD Daily ETF

A number of hedge funds and other institutional investors have recently modified their holdings of AMDL. Group One Trading LLC raised its holdings 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 buying an additional 537,911 shares during the period. UBS Group AG boosted its stake in GraniteShares 2x Long AMD Daily ETF by 48.1% during the fourth quarter. UBS Group AG now owns 1,500,000 shares of the company’s stock worth $23,325,000 after buying an additional 487,097 shares during the period. IMC Chicago LLC acquired a new stake in shares of GraniteShares 2x Long AMD Daily ETF during the first quarter valued at about $1,726,000. NewEdge Advisors LLC acquired a new stake in shares of GraniteShares 2x Long AMD Daily ETF during the second quarter valued at about $359,000. Finally, Flow Traders U.S. LLC acquired a new stake in shares of GraniteShares 2x Long AMD Daily ETF during the third quarter valued at about $276,000.

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.