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

GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) shares traded down 12.3% during trading on Wednesday . The company traded as low as $51.81 and last traded at $54.89. Approximately 3,671,107 shares traded hands during 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 Stock Down 14.5%

The firm has a fifty day simple moving average of $65.42 and a 200 day simple moving average of $37.80.

Institutional Trading of GraniteShares 2x Long AMD Daily ETF

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