GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) Shares Down 7.4% – Here’s What Happened

Shares of GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) dropped 7.4% on Monday. The stock traded as low as $47.48 and last traded at $47.2630. 1,130,723 shares were traded during trading, a decline of 85% from the average daily volume of 7,338,335 shares. The stock had previously closed at $51.02.

GraniteShares 2x Long AMD Daily ETF Stock Up 1.7%

The firm has a fifty day moving average price of $64.29 and a 200 day moving average price of $45.32.

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

Several hedge funds have recently modified their holdings of AMDL. IMC Chicago LLC bought a new stake in shares of GraniteShares 2x Long AMD Daily ETF during the 1st quarter valued at about $1,726,000. Group One Trading LLC bought a new position in GraniteShares 2x Long AMD Daily ETF during the 1st quarter valued at $524,000. Client First Investment Management LLC bought a new stake in GraniteShares 2x Long AMD Daily ETF in the 2nd quarter worth about $1,097,000. Simplex Trading LLC purchased a new position in GraniteShares 2x Long AMD Daily ETF in the third quarter worth $819,000. Finally, StoneX Group Inc. bought a new position in shares of GraniteShares 2x Long AMD Daily ETF during the 3rd quarter valued at approximately $688,000.

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.