GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) Shares Down 8.6% – Here’s Why

GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL)’s share price traded down 8.6% on Wednesday . The company traded as low as $52.07 and last traded at $52.91. 1,585,854 shares traded hands 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 Stock Down 6.9%

The company’s 50 day simple moving average is $40.11 and its 200-day simple moving average is $23.85.

Institutional Trading of GraniteShares 2x Long AMD Daily ETF

Institutional investors and hedge funds have recently made changes to their positions in the stock. Osaic Holdings Inc. raised its position in shares of GraniteShares 2x Long AMD Daily ETF by 36.6% during the 2nd 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 in the last quarter. HUB Investment Partners LLC purchased a new stake in GraniteShares 2x Long AMD Daily ETF during the second quarter valued at about $108,000. Balboa Wealth Partners purchased a new stake in GraniteShares 2x Long AMD Daily ETF during the first quarter valued at about $122,000. Financial Engines Advisors L.L.C. purchased a new stake in GraniteShares 2x Long AMD Daily ETF during the third quarter valued at about $149,000. Finally, CreativeOne Wealth LLC purchased a new stake in GraniteShares 2x Long AMD Daily ETF during the third quarter valued at 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.