GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) Stock Price Down 9.6% – Time to Sell?

Shares of GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) dropped 9.6% during mid-day trading on Wednesday . The company traded as low as $62.94 and last traded at $64.66. Approximately 1,499,629 shares were traded during trading, a decline of 85% from the average daily volume of 10,149,657 shares. The stock had previously closed at $71.49.

GraniteShares 2x Long AMD Daily ETF Price Performance

The business’s 50 day moving average is $63.65 and its 200 day moving average is $33.20.

Institutional Trading of GraniteShares 2x Long AMD Daily ETF

Several hedge funds and other institutional investors have recently modified their holdings of the business. UBS Group AG grew its holdings in shares of GraniteShares 2x Long AMD Daily ETF by 48.1% during the fourth quarter. UBS Group AG now owns 1,500,000 shares of the company’s stock valued at $23,325,000 after buying an additional 487,097 shares in the last quarter. Group One Trading LLC lifted its stake in GraniteShares 2x Long AMD Daily ETF by 261.5% in the 2nd quarter. Group One Trading LLC now owns 743,626 shares of the company’s stock worth $6,328,000 after acquiring an additional 537,911 shares in the last quarter. IMC Chicago LLC acquired a new stake in GraniteShares 2x Long AMD Daily ETF during the 1st quarter worth about $1,726,000. NewEdge Advisors LLC acquired a new stake in GraniteShares 2x Long AMD Daily ETF during the 2nd quarter worth about $359,000. Finally, Flow Traders U.S. LLC purchased a new position in GraniteShares 2x Long AMD Daily ETF during the 3rd quarter valued at about $276,000.

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.