GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) Trading 6.8% Higher – What’s Next?

GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL)’s share price shot up 6.8% on Tuesday . The company traded as high as $23.52 and last traded at $23.43. 8,857,320 shares traded hands during mid-day trading, a decline of 24% from the average session volume of 11,722,330 shares. The stock had previously closed at $21.94.

GraniteShares 2x Long AMD Daily ETF Price Performance

The business’s 50-day moving average is $13.85 and its two-hundred day moving average is $16.53.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Balboa Wealth Partners bought a new position in GraniteShares 2x Long AMD Daily ETF in the first quarter valued at $122,000. Vestor Capital LLC grew its position in shares of GraniteShares 2x Long AMD Daily ETF by 145.5% in the 4th quarter. Vestor Capital LLC now owns 10,250 shares of the company’s stock valued at $159,000 after acquiring an additional 6,074 shares during the period. UBS Group AG grew its position in shares of GraniteShares 2x Long AMD Daily ETF by 48.1% in the 4th quarter. UBS Group AG now owns 1,500,000 shares of the company’s stock valued at $23,325,000 after acquiring an additional 487,097 shares during the period. Financial Engines Advisors L.L.C. bought a new position in shares of GraniteShares 2x Long AMD Daily ETF in the 3rd quarter valued at about $149,000. Finally, Flow Traders U.S. LLC bought a new position in shares of GraniteShares 2x Long AMD Daily ETF in the 3rd quarter valued at about $276,000.

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.