GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) Stock Price Down 12.3% – Should You Sell?

Shares of GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) fell 12.3% on Wednesday . The stock traded as low as $51.81 and last traded at $54.89. 3,671,107 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 9,482,635 shares. The stock had previously closed at $62.62.

GraniteShares 2x Long AMD Daily ETF Trading Down 3.6%

The business has a fifty day moving average price of $64.83 and a 200-day moving average price of $38.29.

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

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Osaic Holdings Inc. grew its stake 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 worth $52,000 after acquiring an additional 1,645 shares during the period. HUB Investment Partners LLC purchased a new stake in GraniteShares 2x Long AMD Daily ETF in the second quarter worth approximately $108,000. Balboa Wealth Partners purchased a new stake in GraniteShares 2x Long AMD Daily ETF in the first quarter worth approximately $122,000. Financial Engines Advisors L.L.C. bought a new stake in GraniteShares 2x Long AMD Daily ETF in the 3rd quarter worth approximately $149,000. Finally, CreativeOne Wealth LLC bought a new stake in GraniteShares 2x Long AMD Daily ETF in the 3rd quarter worth approximately $157,000.

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.