GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) Shares Gap Up – Still a Buy?

GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL)’s share price gapped up prior to trading on Friday. The stock had previously closed at $30.79, but opened at $36.88. GraniteShares 2x Long AMD Daily ETF shares last traded at $37.8570, with a volume of 2,232,618 shares changing hands.

GraniteShares 2x Long AMD Daily ETF Stock Up 19.7%

The business’s fifty day moving average is $63.82 and its two-hundred day moving average is $45.53.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Simplex Trading LLC acquired a new stake in shares of GraniteShares 2x Long AMD Daily ETF in the 3rd quarter valued at $819,000. StoneX Group Inc. acquired a new position in shares of GraniteShares 2x Long AMD Daily ETF during the third quarter valued at $688,000. SBI Securities Co. Ltd. lifted its stake in shares of GraniteShares 2x Long AMD Daily ETF by 18.3% during the third quarter. SBI Securities Co. Ltd. now owns 4,014 shares of the company’s stock valued at $317,000 after acquiring an additional 621 shares during the period. Thrive Wealth Management LLC acquired a new position in shares of GraniteShares 2x Long AMD Daily ETF during the second quarter valued at $238,000. Finally, Client First Investment Management LLC acquired a new position in shares of GraniteShares 2x Long AMD Daily ETF during the second quarter valued at $1,097,000.

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.