GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) Stock Falls 8.7% – Here’s What Happened

GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL)’s share price traded down 8.7% during trading on Thursday. The stock traded as low as $78.90 and last traded at $80.1280. Approximately 1,527,616 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 7,813,143 shares. The stock had previously closed at $87.73.

GraniteShares 2x Long AMD Daily ETF Stock Performance

The stock’s 50 day moving average price is $61.49 and its 200-day moving average price is $53.38.

Institutional Trading of GraniteShares 2x Long AMD Daily ETF

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

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.