GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) Shares Down 10.5% – Here’s What Happened

GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL)’s stock price fell 10.5% on Monday . The stock traded as low as $30.58 and last traded at $30.71. 5,278,829 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 11,888,356 shares. The stock had previously closed at $34.30.

GraniteShares 2x Long AMD Daily ETF Stock Down 7.0%

The firm’s 50 day moving average is $14.98 and its two-hundred day moving average is $16.86.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. UBS Group AG boosted its position in 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 period. Group One Trading LLC boosted its position in GraniteShares 2x Long AMD Daily ETF by 261.5% during the second quarter. Group One Trading LLC now owns 743,626 shares of the company’s stock worth $6,328,000 after purchasing an additional 537,911 shares during the period. NewEdge Advisors LLC bought a new position in GraniteShares 2x Long AMD Daily ETF during the second quarter worth $359,000. Flow Traders U.S. LLC bought a new position in GraniteShares 2x Long AMD Daily ETF during the third quarter worth $276,000. Finally, StoneX Group Inc. bought a new position in GraniteShares 2x Long AMD Daily ETF during the second quarter worth $170,000.

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.