GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) Sees Significant Decline in Short Interest

GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) was the target of a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 564,700 shares, a drop of 67.4% from the October 31st total of 1,730,000 shares. Based on an average trading volume of 2,686,800 shares, the days-to-cover ratio is presently 0.2 days.

Hedge Funds Weigh In On GraniteShares 2x Long AMD Daily ETF

An institutional investor recently raised its position in GraniteShares 2x Long AMD Daily ETF stock. Garden State Investment Advisory Services LLC boosted its holdings in shares of GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) by 39.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 56,800 shares of the company’s stock after buying an additional 16,022 shares during the quarter. Garden State Investment Advisory Services LLC owned approximately 0.36% of GraniteShares 2x Long AMD Daily ETF worth $863,000 as of its most recent SEC filing.

GraniteShares 2x Long AMD Daily ETF Trading Up 1.3 %

AMDL traded up $0.13 during trading on Friday, hitting $10.10. 2,410,779 shares of the stock were exchanged, compared to its average volume of 1,987,776. The firm has a 50 day simple moving average of $12.94 and a 200 day simple moving average of $14.14. GraniteShares 2x Long AMD Daily ETF has a 1 year low of $8.74 and a 1 year high of $25.62.

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.