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

Shares of GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) gapped down before the market opened on Tuesday . The stock had previously closed at $75.72, but opened at $63.93. GraniteShares 2x Long AMD Daily ETF shares last traded at $67.72, with a volume of 1,333,839 shares.

GraniteShares 2x Long AMD Daily ETF Trading Down 10.3%

The company’s fifty day moving average price is $49.67 and its 200-day moving average price is $27.11.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. StoneX Group Inc. purchased a new position in shares of GraniteShares 2x Long AMD Daily ETF in the second quarter worth $170,000. NewEdge Advisors LLC acquired a new stake in shares of GraniteShares 2x Long AMD Daily ETF during the second quarter worth $359,000. HUB Investment Partners LLC purchased a new stake in shares of GraniteShares 2x Long AMD Daily ETF during the second quarter valued at $108,000. Group One Trading LLC grew its holdings in shares of GraniteShares 2x Long AMD Daily ETF by 261.5% during the second 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 last quarter. Finally, Osaic Holdings Inc. increased its position in shares of GraniteShares 2x Long AMD Daily ETF by 36.6% in the 2nd 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 period.

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.