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

GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $52.64, but opened at $54.40. GraniteShares 2x Long AMD Daily ETF shares last traded at $55.8650, with a volume of 634,365 shares traded.

GraniteShares 2x Long AMD Daily ETF Trading Up 3.5%

The company has a fifty day simple moving average of $55.75 and a two-hundred day simple moving average of $44.92.

Hedge Funds Weigh In On GraniteShares 2x Long AMD Daily ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. IMC Chicago LLC bought a new stake in shares of GraniteShares 2x Long AMD Daily ETF during the 1st quarter worth $1,726,000. Group One Trading LLC acquired a new position in shares of GraniteShares 2x Long AMD Daily ETF during the 1st quarter worth about $524,000. Client First Investment Management LLC bought a new stake in GraniteShares 2x Long AMD Daily ETF during the 2nd quarter valued at approximately $1,097,000. Balboa Wealth Partners bought a new stake in GraniteShares 2x Long AMD Daily ETF during the 1st quarter valued at approximately $122,000. Finally, Thrive Wealth Management LLC acquired a new position in shares of GraniteShares 2x Long AMD Daily ETF during the second quarter worth approximately $238,000.

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.