GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) Stock Cross Below 200 Day Moving Average – Should You Sell?

GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL)’s stock price passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $45.53 and traded as low as $30.54. GraniteShares 2x Long AMD Daily ETF shares last traded at $30.71, with a volume of 8,476,048 shares trading hands.

GraniteShares 2x Long AMD Daily ETF Trading Down 35.0%

The firm has a 50-day moving average of $63.82 and a 200 day moving average of $45.53.

Institutional Trading of GraniteShares 2x Long AMD Daily ETF

Hedge funds have recently made changes to their positions in the company. IMC Chicago LLC purchased a new position in shares of GraniteShares 2x Long AMD Daily ETF in the first quarter valued at $1,726,000. Group One Trading LLC acquired a new stake in GraniteShares 2x Long AMD Daily ETF during the 1st quarter valued at $524,000. Client First Investment Management LLC acquired a new stake in GraniteShares 2x Long AMD Daily ETF during the 2nd quarter valued at $1,097,000. Simplex Trading LLC acquired a new stake in GraniteShares 2x Long AMD Daily ETF during the 3rd quarter valued at $819,000. Finally, StoneX Group Inc. acquired a new stake in GraniteShares 2x Long AMD Daily ETF during the 3rd quarter valued at $688,000.

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.