GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) Trading 13.5% Higher – Time to Buy?

GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL)’s share price traded up 13.5% during mid-day trading on Wednesday . The stock traded as high as $14.42 and last traded at $14.36. 6,665,363 shares changed hands during mid-day trading, a decline of 45% from the average session volume of 12,019,747 shares. The stock had previously closed at $12.65.

GraniteShares 2x Long AMD Daily ETF Trading Down 14.7%

The stock has a 50-day moving average price of $14.54 and a 200 day moving average price of $15.70.

Institutional Trading of GraniteShares 2x Long AMD Daily ETF

Several hedge funds have recently bought and sold shares of the stock. UBS Group AG lifted its stake in GraniteShares 2x Long AMD Daily ETF by 48.1% in the fourth quarter. UBS Group AG now owns 1,500,000 shares of the company’s stock valued at $23,325,000 after buying an additional 487,097 shares in the last quarter. Group One Trading LLC increased its position in shares of GraniteShares 2x Long AMD Daily ETF by 261.5% during 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. GatePass Capital LLC acquired a new stake in shares of GraniteShares 2x Long AMD Daily ETF during the second quarter worth $426,000. NewEdge Advisors LLC acquired a new stake in shares of GraniteShares 2x Long AMD Daily ETF during the second quarter worth $359,000. Finally, Flow Traders U.S. LLC bought a new stake in GraniteShares 2x Long AMD Daily ETF in the 3rd quarter valued at $276,000.

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.