GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) Stock Price Down 12.3% – Time to Sell?

GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) dropped 12.3% during mid-day trading on Wednesday . The company traded as low as $51.81 and last traded at $54.89. Approximately 3,671,107 shares were traded during trading, a decline of 61% from the average session volume of 9,482,635 shares. The stock had previously closed at $62.62.

GraniteShares 2x Long AMD Daily ETF Stock Down 14.5%

The company has a fifty day moving average price of $65.42 and a two-hundred day moving average price of $37.80.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of AMDL. Client First Investment Management LLC purchased a new position in shares of GraniteShares 2x Long AMD Daily ETF during the 2nd quarter valued at $1,097,000. Thrive Wealth Management LLC acquired a new position in GraniteShares 2x Long AMD Daily ETF in the second quarter worth approximately $238,000. Group One Trading LLC acquired a new position in GraniteShares 2x Long AMD Daily ETF in the first quarter worth approximately $524,000. IMC Chicago LLC bought a new position in GraniteShares 2x Long AMD Daily ETF during the first quarter valued at approximately $1,726,000. Finally, Balboa Wealth Partners bought a new position in GraniteShares 2x Long AMD Daily ETF during the first quarter valued at approximately $122,000.

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.