GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) Trading 15.5% Higher – Still a Buy?

GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) shares traded up 15.5% on Monday . The stock traded as high as $75.33 and last traded at $75.25. 992,038 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 10,512,751 shares. The stock had previously closed at $65.15.

GraniteShares 2x Long AMD Daily ETF Stock Performance

The stock’s 50 day moving average is $58.40 and its 200-day moving average is $30.50.

Institutional Trading of GraniteShares 2x Long AMD Daily ETF

Several hedge funds have recently made changes to their positions in AMDL. Group One Trading LLC grew its position in GraniteShares 2x Long AMD Daily ETF by 261.5% in the second quarter. Group One Trading LLC now owns 743,626 shares of the company’s stock worth $6,328,000 after acquiring an additional 537,911 shares in the last quarter. UBS Group AG raised its position in GraniteShares 2x Long AMD Daily ETF by 48.1% during the fourth quarter. UBS Group AG now owns 1,500,000 shares of the company’s stock valued at $23,325,000 after purchasing an additional 487,097 shares during the period. IMC Chicago LLC bought a new stake in shares of GraniteShares 2x Long AMD Daily ETF in the 1st quarter valued at approximately $1,726,000. NewEdge Advisors LLC bought a new stake in shares of GraniteShares 2x Long AMD Daily ETF in the 2nd quarter valued at approximately $359,000. Finally, Flow Traders U.S. LLC bought a new stake in shares of GraniteShares 2x Long AMD Daily ETF in the 3rd quarter valued at approximately $276,000.

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.