GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) Stock Price Down 7.7% – Should You Sell?

GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL)’s share price traded down 7.7% on Wednesday . The stock traded as low as $47.67 and last traded at $47.98. 628,830 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 9,080,146 shares. The stock had previously closed at $51.96.

GraniteShares 2x Long AMD Daily ETF Price Performance

The business has a 50-day moving average price of $62.71 and a two-hundred day moving average price of $40.13.

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

Hedge funds have recently added to or reduced their stakes in the business. Osaic Holdings Inc. lifted its stake in 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 buying an additional 1,645 shares in the last quarter. Thrive Wealth Management LLC acquired a new position in shares of GraniteShares 2x Long AMD Daily ETF in the second quarter worth $238,000. Vestor Capital LLC lifted its position in shares of GraniteShares 2x Long AMD Daily ETF by 145.5% in the fourth quarter. Vestor Capital LLC now owns 10,250 shares of the company’s stock valued at $159,000 after acquiring an additional 6,074 shares in the last quarter. Balboa Wealth Partners purchased a new stake in shares of GraniteShares 2x Long AMD Daily ETF in the first quarter valued at $122,000. Finally, HUB Investment Partners LLC acquired a new stake in shares of GraniteShares 2x Long AMD Daily ETF during the second quarter valued at $108,000.

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.