GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) Trading Up 15.5% – Still a Buy?

GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) traded up 15.5% on Monday . The stock traded as high as $75.33 and last traded at $75.25. 992,038 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 10,512,751 shares. The stock had previously closed at $65.15.

GraniteShares 2x Long AMD Daily ETF Price Performance

The firm’s 50-day simple moving average is $58.40 and its 200-day simple moving average is $30.50.

Institutional Investors Weigh In On GraniteShares 2x Long AMD Daily ETF

Institutional investors have recently added to or reduced their stakes in the stock. UBS Group AG grew its holdings in GraniteShares 2x Long AMD Daily ETF by 48.1% in 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 last quarter. Balboa Wealth Partners purchased a new position in shares of GraniteShares 2x Long AMD Daily ETF in the first quarter worth about $122,000. Osaic Holdings Inc. lifted 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 valued at $52,000 after acquiring an additional 1,645 shares during the period. HUB Investment Partners LLC acquired a new position in GraniteShares 2x Long AMD Daily ETF during the second quarter valued at $108,000. Finally, Financial Engines Advisors L.L.C. purchased a new stake in shares of GraniteShares 2x Long AMD Daily ETF in the third quarter worth about $149,000.

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.