GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) Stock Price Down 7.4% – Should You Sell?

GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) were down 7.4% on Monday. The stock traded as low as $47.48 and last traded at $47.2630. Approximately 1,130,723 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 7,338,335 shares. The stock had previously closed at $51.02.

GraniteShares 2x Long AMD Daily ETF Price Performance

The stock’s fifty day moving average is $64.41 and its two-hundred day moving average is $45.04.

Institutional Investors Weigh In On GraniteShares 2x Long AMD Daily ETF

A number of institutional investors and hedge funds have recently modified their holdings of AMDL. SBI Securities Co. Ltd. increased its stake in GraniteShares 2x Long AMD Daily ETF by 18.3% in the 3rd quarter. SBI Securities Co. Ltd. now owns 4,014 shares of the company’s stock worth $317,000 after purchasing an additional 621 shares in the last quarter. Thrive Wealth Management LLC acquired a new stake in shares of GraniteShares 2x Long AMD Daily ETF during the second quarter valued at approximately $238,000. Client First Investment Management LLC purchased a new stake in shares of GraniteShares 2x Long AMD Daily ETF in the 2nd quarter valued at approximately $1,097,000. Group One Trading LLC acquired a new position in GraniteShares 2x Long AMD Daily ETF in the 1st quarter worth approximately $524,000. Finally, IMC Chicago LLC acquired a new position in GraniteShares 2x Long AMD Daily ETF in the 1st quarter worth approximately $1,726,000.

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.