GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) Shares Gap Down – Here’s Why

GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) shares gapped down before the market opened on Friday. The stock had previously closed at $62.67, but opened at $58.53. GraniteShares 2x Long AMD Daily ETF shares last traded at $52.7560, with a volume of 1,440,706 shares traded.

GraniteShares 2x Long AMD Daily ETF Stock Performance

The business has a 50-day moving average price of $64.13 and a 200-day moving average price of $46.28.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Client First Investment Management LLC purchased a new stake in shares of GraniteShares 2x Long AMD Daily ETF in the 2nd quarter worth approximately $1,097,000. IMC Chicago LLC bought a new position in shares of GraniteShares 2x Long AMD Daily ETF during the first quarter valued at approximately $1,726,000. Group One Trading LLC bought a new position in shares of GraniteShares 2x Long AMD Daily ETF during the first quarter valued at approximately $524,000. Thrive Wealth Management LLC bought a new position in shares of GraniteShares 2x Long AMD Daily ETF during the second quarter valued at approximately $238,000. Finally, StoneX Group Inc. purchased a new position in GraniteShares 2x Long AMD Daily ETF during the third quarter valued at approximately $688,000.

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.