GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) Shares Gap Down – Time to Sell?

GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) gapped down prior to trading on Thursday. The stock had previously closed at $63.15, but opened at $56.66. GraniteShares 2x Long AMD Daily ETF shares last traded at $56.3280, with a volume of 457,202 shares.

GraniteShares 2x Long AMD Daily ETF Stock Down 14.7%

The firm has a 50 day simple moving average of $63.47 and a 200 day simple moving average of $56.65.

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

A number of institutional investors and hedge funds have recently modified their holdings of AMDL. Balboa Wealth Partners bought a new position in shares of GraniteShares 2x Long AMD Daily ETF in the first quarter valued at approximately $122,000. Thrive Wealth Management LLC bought a new stake in GraniteShares 2x Long AMD Daily ETF during the 2nd quarter worth approximately $238,000. SBI Securities Co. Ltd. increased its holdings in GraniteShares 2x Long AMD Daily ETF by 18.3% during the 3rd quarter. SBI Securities Co. Ltd. now owns 4,014 shares of the company’s stock worth $317,000 after acquiring an additional 621 shares during the period. Group One Trading LLC bought a new stake in GraniteShares 2x Long AMD Daily ETF during the 1st quarter worth approximately $524,000. Finally, Client First Investment Management LLC purchased a new stake in GraniteShares 2x Long AMD Daily ETF in the 2nd quarter worth approximately $1,097,000.

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.