GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) Shares Gap Down – Here’s What Happened

GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $57.33, but opened at $50.61. GraniteShares 2x Long AMD Daily ETF shares last traded at $47.75, with a volume of 1,068,379 shares changing hands.

GraniteShares 2x Long AMD Daily ETF Trading Down 13.8%

The firm’s 50-day moving average price is $65.90 and its 200 day moving average price is $36.24.

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

A number of hedge funds have recently bought and sold shares of AMDL. Group One Trading LLC purchased a new stake in shares of GraniteShares 2x Long AMD Daily ETF during the first quarter valued at approximately $524,000. IMC Chicago LLC purchased a new position in GraniteShares 2x Long AMD Daily ETF in the first quarter worth $1,726,000. UBS Group AG boosted its position in GraniteShares 2x Long AMD Daily ETF by 48.1% in the fourth quarter. UBS Group AG now owns 1,500,000 shares of the company’s stock worth $23,325,000 after purchasing an additional 487,097 shares during the last quarter. Balboa Wealth Partners bought a new position in GraniteShares 2x Long AMD Daily ETF in the 1st quarter valued at $122,000. Finally, NewEdge Advisors LLC bought a new position in GraniteShares 2x Long AMD Daily ETF in the 2nd quarter valued at $359,000.

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.