GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) Shares Down 6.5% – Time to Sell?

GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL)’s stock price fell 6.5% during mid-day trading on Thursday . The company traded as low as $55.06 and last traded at $55.1080. Approximately 1,059,410 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 8,455,255 shares. The stock had previously closed at $58.92.

GraniteShares 2x Long AMD Daily ETF Stock Performance

The firm has a 50 day simple moving average of $56.17 and a 200-day simple moving average of $44.42.

Institutional Trading of GraniteShares 2x Long AMD Daily ETF

Hedge funds have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. lifted its holdings in shares of 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 purchasing an additional 1,645 shares in the last quarter. HUB Investment Partners LLC purchased a new position in GraniteShares 2x Long AMD Daily ETF during the second quarter worth approximately $108,000. Balboa Wealth Partners purchased a new stake in shares of GraniteShares 2x Long AMD Daily ETF during the 1st quarter valued at $122,000. Financial Engines Advisors L.L.C. acquired a new stake in shares of GraniteShares 2x Long AMD Daily ETF during the 3rd quarter worth $149,000. Finally, CreativeOne Wealth LLC acquired a new stake in shares of GraniteShares 2x Long AMD Daily ETF during the 3rd quarter worth $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.