GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) Shares Up 11.2% – What’s Next?

Shares of GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) shot up 11.2% on Thursday . The company traded as high as $18.50 and last traded at $18.62. 4,817,820 shares traded hands during trading, a decline of 49% from the average session volume of 9,454,229 shares. The stock had previously closed at $16.75.

GraniteShares 2x Long AMD Daily ETF Stock Performance

The firm’s 50-day simple moving average is $16.60 and its 200 day simple moving average is $14.37.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. lifted its position in shares of GraniteShares 2x Long AMD Daily ETF by 36.6% during the 2nd quarter. Osaic Holdings Inc. now owns 6,145 shares of the company’s stock valued at $52,000 after acquiring an additional 1,645 shares during the period. SBI Securities Co. Ltd. increased its stake in GraniteShares 2x Long AMD Daily ETF by 47.8% in the 2nd quarter. SBI Securities Co. Ltd. now owns 14,961 shares of the company’s stock valued at $127,000 after purchasing an additional 4,840 shares in the last quarter. HUB Investment Partners LLC acquired a new position in GraniteShares 2x Long AMD Daily ETF during the second quarter worth $108,000. Financial Engines Advisors L.L.C. acquired a new position in GraniteShares 2x Long AMD Daily ETF during the third quarter worth $149,000. Finally, CreativeOne Wealth LLC purchased a new stake in GraniteShares 2x Long AMD Daily ETF during the third quarter worth $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.