GraniteShares 2x Long SMCI Daily ETF (NASDAQ:SMCL) Stock Price Down 9.8% – Time to Sell?

GraniteShares 2x Long SMCI Daily ETF (NASDAQ:SMCL)’s stock price dropped 9.8% during trading on Wednesday . The stock traded as low as $34.56 and last traded at $34.60. Approximately 455,309 shares traded hands during trading, a decline of 16% from the average session volume of 545,162 shares. The stock had previously closed at $38.38.

GraniteShares 2x Long SMCI Daily ETF Stock Performance

The stock’s fifty day simple moving average is $63.87 and its two-hundred day simple moving average is $80.98.

Institutional Trading of GraniteShares 2x Long SMCI Daily ETF

Institutional investors and hedge funds have recently bought and sold shares of the stock. SBI Securities Co. Ltd. raised its position in GraniteShares 2x Long SMCI Daily ETF by 262.2% during the 4th quarter. SBI Securities Co. Ltd. now owns 49,880 shares of the company’s stock worth $225,000 after purchasing an additional 36,107 shares during the last quarter. StoneX Group Inc. bought a new stake in shares of GraniteShares 2x Long SMCI Daily ETF in the 4th quarter valued at about $118,000. IMC Chicago LLC bought a new stake in shares of GraniteShares 2x Long SMCI Daily ETF in the 1st quarter valued at about $160,000. Finally, Optiver Holding B.V. increased its stake in shares of GraniteShares 2x Long SMCI Daily ETF by 988.5% in the first quarter. Optiver Holding B.V. now owns 308,923 shares of the company’s stock valued at $531,000 after buying an additional 280,543 shares during the period.

About GraniteShares 2x Long SMCI Daily ETF

The GraniteShares 2x Long SMCI Daily ETF (SMCL) 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 Super Micro Computer Inc (ticker: SMCI) stock. SMCL was launched on Dec 12, 2024 and is issued by GraniteShares.