GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) Stock Falls 7.3% – Time to Sell?

GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL)’s share price dropped 7.3% during mid-day trading on Wednesday. The company traded as low as $70.69 and last traded at $71.1040. 748,349 shares traded hands during trading, a decline of 90% from the average daily volume of 7,684,780 shares. The stock had previously closed at $76.72.

GraniteShares 2x Long AMD Daily ETF Stock Performance

The company’s 50-day simple moving average is $62.19 and its 200 day simple moving average is $54.54.

Institutional Trading of GraniteShares 2x Long AMD Daily ETF

Several hedge funds have recently made changes to their positions in the business. IMC Chicago LLC purchased a new stake in GraniteShares 2x Long AMD Daily ETF during the 1st quarter valued at $1,726,000. Group One Trading LLC bought a new stake in GraniteShares 2x Long AMD Daily ETF in the first quarter worth $524,000. Client First Investment Management LLC purchased a new position in GraniteShares 2x Long AMD Daily ETF during the second quarter worth $1,097,000. Balboa Wealth Partners purchased a new position in GraniteShares 2x Long AMD Daily ETF during the first quarter worth $122,000. Finally, Thrive Wealth Management LLC bought a new position in GraniteShares 2x Long AMD Daily ETF during the second quarter valued at $238,000.

GraniteShares 2x Long AMD Daily ETF Company Profile

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.