GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) Stock Price Down 7.4% – Here’s What Happened

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

GraniteShares 2x Long AMD Daily ETF Stock Down 11.2%

The company has a 50 day moving average of $64.41 and a 200 day moving average of $45.04.

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

Several institutional investors have recently bought and sold shares of AMDL. SBI Securities Co. Ltd. boosted its position in shares of 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 during the last quarter. Thrive Wealth Management LLC bought a new position in shares of GraniteShares 2x Long AMD Daily ETF during the second quarter worth about $238,000. Client First Investment Management LLC bought a new stake in 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 during the 1st quarter worth approximately $524,000. Finally, IMC Chicago LLC acquired a new position in GraniteShares 2x Long AMD Daily ETF during 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.