GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) Trading Up 12.2% – Should You Buy?

Shares of GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) shot up 12.2% during trading on Tuesday . The stock traded as high as $60.37 and last traded at $59.70. 1,296,750 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 9,479,381 shares. The stock had previously closed at $53.22.

GraniteShares 2x Long AMD Daily ETF Price Performance

The firm’s 50-day simple moving average is $65.17 and its 200-day simple moving average is $38.04.

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

A number of institutional investors and hedge funds have recently bought and sold shares of AMDL. Osaic Holdings Inc. grew its position in shares of GraniteShares 2x Long AMD Daily ETF by 36.6% during the 2nd quarter. Osaic Holdings Inc. now owns 6,145 shares of the company’s stock worth $52,000 after buying an additional 1,645 shares in the last quarter. HUB Investment Partners LLC bought a new position in GraniteShares 2x Long AMD Daily ETF during the 2nd quarter worth about $108,000. Balboa Wealth Partners bought a new position in GraniteShares 2x Long AMD Daily ETF during the 1st quarter worth about $122,000. Financial Engines Advisors L.L.C. purchased a new position in GraniteShares 2x Long AMD Daily ETF during the 3rd quarter valued at about $149,000. Finally, CreativeOne Wealth LLC bought a new stake in shares of GraniteShares 2x Long AMD Daily ETF in the 3rd quarter valued at about $157,000.

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.