GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) Hits New 1-Year High – Still a Buy?

GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $68.65 and last traded at $64.69, with a volume of 5759035 shares. The stock had previously closed at $66.90.

GraniteShares 2x Long AMD Daily ETF Trading Down 3.3%

The firm’s fifty day simple moving average is $30.33 and its 200 day simple moving average is $20.92.

Hedge Funds Weigh In On GraniteShares 2x Long AMD Daily ETF

A number of institutional investors and hedge funds have recently modified their holdings of AMDL. Group One Trading LLC increased its holdings in GraniteShares 2x Long AMD Daily ETF by 261.5% in the second quarter. Group One Trading LLC now owns 743,626 shares of the company’s stock valued at $6,328,000 after buying an additional 537,911 shares during the last quarter. UBS Group AG raised its stake 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 valued at $23,325,000 after buying an additional 487,097 shares in the last quarter. IMC Chicago LLC purchased a new stake in GraniteShares 2x Long AMD Daily ETF during the 1st quarter worth about $1,726,000. NewEdge Advisors LLC purchased a new stake in GraniteShares 2x Long AMD Daily ETF during the 2nd quarter worth about $359,000. Finally, Flow Traders U.S. LLC acquired a new position in shares of GraniteShares 2x Long AMD Daily ETF during the 3rd quarter worth about $276,000.

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.