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

GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL)’s stock price fell 7.7% during mid-day trading on Wednesday . The company 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 Trading Down 6.9%

The company’s 50 day simple moving average is $62.71 and its 200-day simple moving average is $40.13.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Group One Trading LLC purchased a new stake in shares of GraniteShares 2x Long AMD Daily ETF in the first quarter valued at $524,000. IMC Chicago LLC purchased a new position in GraniteShares 2x Long AMD Daily ETF during the first quarter worth about $1,726,000. Balboa Wealth Partners acquired a new stake in GraniteShares 2x Long AMD Daily ETF in the 1st quarter worth about $122,000. UBS Group AG boosted its stake in GraniteShares 2x Long AMD Daily ETF by 48.1% in the 4th quarter. UBS Group AG now owns 1,500,000 shares of the company’s stock worth $23,325,000 after buying an additional 487,097 shares during the last quarter. Finally, Client First Investment Management LLC acquired a new stake in GraniteShares 2x Long AMD Daily ETF in the 2nd quarter worth about $1,097,000.

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.