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

GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) gapped down before the market opened on Wednesday . The stock had previously closed at $82.75, but opened at $76.09. GraniteShares 2x Long AMD Daily ETF shares last traded at $77.84, with a volume of 1,323,911 shares changing hands.

GraniteShares 2x Long AMD Daily ETF Trading Down 8.8%

The stock’s fifty day simple moving average is $57.62 and its 200 day simple moving average is $30.14.

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

Hedge funds and other institutional investors have recently modified their holdings of the stock. Osaic Holdings Inc. raised its holdings in GraniteShares 2x Long AMD Daily ETF by 36.6% in the 2nd quarter. Osaic Holdings Inc. now owns 6,145 shares of the company’s stock worth $52,000 after purchasing an additional 1,645 shares during the period. HUB Investment Partners LLC bought a new stake in GraniteShares 2x Long AMD Daily ETF during the second quarter valued at about $108,000. Balboa Wealth Partners purchased a new stake in GraniteShares 2x Long AMD Daily ETF in the first quarter worth about $122,000. Financial Engines Advisors L.L.C. purchased a new stake in GraniteShares 2x Long AMD Daily ETF in the third quarter worth about $149,000. Finally, CreativeOne Wealth LLC bought a new position in shares of GraniteShares 2x Long AMD Daily ETF in the third quarter worth about $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.