GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) Stock Price Down 7.3% – Time to Sell?

Shares of GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) fell 7.3% during trading on Wednesday. The company traded as low as $70.69 and last traded at $71.1040. Approximately 748,349 shares traded hands during trading, a decline of 90% from the average session volume of 7,684,780 shares. The stock had previously closed at $76.72.

GraniteShares 2x Long AMD Daily ETF Price Performance

The stock’s 50-day moving average is $62.19 and its two-hundred day moving average is $54.54.

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

A number of large investors have recently bought and sold shares of the business. IMC Chicago LLC bought a new position in GraniteShares 2x Long AMD Daily ETF in the 1st quarter valued at $1,726,000. Group One Trading LLC purchased a new stake in GraniteShares 2x Long AMD Daily ETF in the first quarter worth $524,000. Client First Investment Management LLC bought a new stake in shares of GraniteShares 2x Long AMD Daily ETF during the second quarter worth $1,097,000. Balboa Wealth Partners bought a new stake in shares of GraniteShares 2x Long AMD Daily ETF during the first quarter worth $122,000. Finally, Thrive Wealth Management LLC bought a new stake in shares of GraniteShares 2x Long AMD Daily ETF during the second quarter worth $238,000.

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.