GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) Stock Price Down 7.7% – Time to Sell?

GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL)’s share price were down 7.7% during trading on Wednesday . The company traded as low as $47.67 and last traded at $47.98. Approximately 628,830 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 9,080,146 shares. The stock had previously closed at $51.96.

GraniteShares 2x Long AMD Daily ETF Trading Up 1.1%

The company has a 50-day moving average price of $62.39 and a two-hundred day moving average price of $40.53.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Osaic Holdings Inc. raised its stake in shares of GraniteShares 2x Long AMD Daily ETF by 36.6% in the second quarter. Osaic Holdings Inc. now owns 6,145 shares of the company’s stock valued at $52,000 after acquiring an additional 1,645 shares during the period. HUB Investment Partners LLC bought a new stake in shares of GraniteShares 2x Long AMD Daily ETF in the 2nd quarter worth about $108,000. Balboa Wealth Partners purchased a new position in shares of GraniteShares 2x Long AMD Daily ETF during the 1st quarter worth about $122,000. Financial Engines Advisors L.L.C. purchased a new position in shares of GraniteShares 2x Long AMD Daily ETF during the 3rd quarter worth about $149,000. Finally, CreativeOne Wealth LLC bought a new position in GraniteShares 2x Long AMD Daily ETF during the 3rd quarter valued at about $157,000.

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.