GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) Trading Down 6.5% – Should You Sell?

Shares of GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) fell 6.5% during trading on Thursday . The stock traded as low as $55.06 and last traded at $55.1080. 1,059,410 shares traded hands during trading, a decline of 87% from the average daily volume of 8,455,255 shares. The stock had previously closed at $58.92.

GraniteShares 2x Long AMD Daily ETF Stock Performance

The firm has a 50 day simple moving average of $56.53 and a 200-day simple moving average of $44.03.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Thrive Wealth Management LLC acquired a new stake in shares of GraniteShares 2x Long AMD Daily ETF during the second quarter valued at about $238,000. Client First Investment Management LLC purchased a new position in shares of GraniteShares 2x Long AMD Daily ETF during the second quarter worth $1,097,000. Group One Trading LLC acquired a new stake in shares of GraniteShares 2x Long AMD Daily ETF in the first quarter valued at $524,000. IMC Chicago LLC purchased a new stake in shares of GraniteShares 2x Long AMD Daily ETF in the 1st quarter valued at $1,726,000. Finally, Balboa Wealth Partners acquired a new position in GraniteShares 2x Long AMD Daily ETF during the 1st quarter worth about $122,000.

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.