GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) Trading 4.3% Higher – Still a Buy?

GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL)’s share price rose 4.3% on Wednesday . The stock traded as high as $53.00 and last traded at $52.64. 543,746 shares changed hands during trading, a decline of 94% from the average session volume of 8,855,095 shares. The stock had previously closed at $50.46.

GraniteShares 2x Long AMD Daily ETF Stock Performance

The stock’s fifty day moving average is $60.46 and its 200-day moving average is $41.73.

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

Hedge funds and other institutional investors have recently made changes to their positions in the company. Osaic Holdings Inc. raised its stake in GraniteShares 2x Long AMD Daily ETF by 36.6% during the 2nd quarter. Osaic Holdings Inc. now owns 6,145 shares of the company’s stock worth $52,000 after buying an additional 1,645 shares during the period. Thrive Wealth Management LLC acquired a new position in GraniteShares 2x Long AMD Daily ETF in the second quarter valued at about $238,000. Vestor Capital LLC grew its stake in GraniteShares 2x Long AMD Daily ETF by 145.5% in the fourth 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. Balboa Wealth Partners bought a new stake in shares of GraniteShares 2x Long AMD Daily ETF in the first quarter worth about $122,000. Finally, HUB Investment Partners LLC bought a new stake in shares of GraniteShares 2x Long AMD Daily ETF in the second quarter worth about $108,000.

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.