GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) Stock Jumps 9.6% – Should You Buy?

Shares of GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) shot up 9.6% during mid-day trading on Tuesday. The stock traded as high as $48.88 and last traded at $47.4640. Approximately 808,884 shares traded hands during trading, a decline of 89% from the average daily volume of 7,312,399 shares. The stock had previously closed at $43.29.

GraniteShares 2x Long AMD Daily ETF Trading Up 10.0%

The company has a 50 day moving average of $64.28 and a two-hundred day moving average of $45.17.

Institutional Investors Weigh In On GraniteShares 2x Long AMD Daily ETF

A number of institutional investors have recently added to or reduced their stakes in the stock. Client First Investment Management LLC bought a new stake in GraniteShares 2x Long AMD Daily ETF in the second quarter valued at $1,097,000. IMC Chicago LLC bought a new position in shares of GraniteShares 2x Long AMD Daily ETF during the first quarter valued at $1,726,000. Group One Trading LLC acquired a new stake in shares of GraniteShares 2x Long AMD Daily ETF in the 1st quarter valued at $524,000. SBI Securities Co. Ltd. boosted its stake in shares of GraniteShares 2x Long AMD Daily ETF by 18.3% in the 3rd quarter. SBI Securities Co. Ltd. now owns 4,014 shares of the company’s stock valued at $317,000 after purchasing an additional 621 shares in the last quarter. Finally, Thrive Wealth Management LLC bought a new stake in shares of GraniteShares 2x Long AMD Daily ETF in the 2nd quarter worth about $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.