GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) Trading Down 7.2% – Here’s What Happened

GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL)’s stock price dropped 7.2% during trading on Friday . The stock traded as low as $62.37 and last traded at $65.09. 579,328 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 10,775,095 shares. The stock had previously closed at $70.17.

GraniteShares 2x Long AMD Daily ETF Stock Performance

The stock has a 50-day moving average of $53.61 and a 200 day moving average of $28.47.

Institutional Trading of GraniteShares 2x Long AMD Daily ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Osaic Holdings Inc. grew its holdings in shares of GraniteShares 2x Long AMD Daily ETF by 36.6% in the second quarter. Osaic Holdings Inc. now owns 6,145 shares of the company’s stock valued at $52,000 after purchasing an additional 1,645 shares during the period. HUB Investment Partners LLC acquired a new stake in GraniteShares 2x Long AMD Daily ETF during the second quarter worth about $108,000. Balboa Wealth Partners purchased a new position in GraniteShares 2x Long AMD Daily ETF during the first quarter worth about $122,000. Financial Engines Advisors L.L.C. purchased a new position in GraniteShares 2x Long AMD Daily ETF during the third quarter worth about $149,000. Finally, CreativeOne Wealth LLC acquired a new position in GraniteShares 2x Long AMD Daily ETF in the 3rd quarter valued at about $157,000.

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.