GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) Shares Gap Down – Here’s Why

GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) gapped down prior to trading on Friday . The stock had previously closed at $54.25, but opened at $50.15. GraniteShares 2x Long AMD Daily ETF shares last traded at $49.70, with a volume of 1,802,425 shares.

GraniteShares 2x Long AMD Daily ETF Stock Down 7.4%

The stock’s fifty day simple moving average is $22.59 and its 200-day simple moving average is $18.93.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. UBS Group AG raised its holdings in shares of GraniteShares 2x Long AMD Daily ETF by 48.1% during the fourth quarter. UBS Group AG now owns 1,500,000 shares of the company’s stock worth $23,325,000 after purchasing an additional 487,097 shares during the last quarter. Group One Trading LLC purchased a new position in shares of GraniteShares 2x Long AMD Daily ETF during the first quarter worth $524,000. Vestor Capital LLC raised its holdings in shares of GraniteShares 2x Long AMD Daily ETF by 145.5% during the fourth quarter. Vestor Capital LLC now owns 10,250 shares of the company’s stock worth $159,000 after purchasing an additional 6,074 shares during the last quarter. NewEdge Advisors LLC purchased a new position in shares of GraniteShares 2x Long AMD Daily ETF during the second quarter worth $359,000. Finally, Flow Traders U.S. LLC purchased a new position in shares of GraniteShares 2x Long AMD Daily ETF during the third quarter worth $276,000.

GraniteShares 2x Long AMD Daily ETF Company Profile

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.