GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) Trading Up 9% – Still a Buy?

Shares of GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) were up 9% during mid-day trading on Wednesday . The stock traded as high as $32.25 and last traded at $32.18. Approximately 10,989,751 shares were traded during trading, a decline of 8% from the average daily volume of 11,978,332 shares. The stock had previously closed at $29.53.

GraniteShares 2x Long AMD Daily ETF Stock Up 3.5%

The company’s fifty day simple moving average is $16.53 and its 200-day simple moving average is $17.26.

Institutional Trading of GraniteShares 2x Long AMD Daily ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMDL. Balboa Wealth Partners acquired a new position in GraniteShares 2x Long AMD Daily ETF during the first quarter valued at $122,000. Vestor Capital LLC boosted its holdings in GraniteShares 2x Long AMD Daily ETF by 145.5% in the 4th quarter. Vestor Capital LLC now owns 10,250 shares of the company’s stock worth $159,000 after buying an additional 6,074 shares during the last quarter. UBS Group AG boosted its holdings in GraniteShares 2x Long AMD Daily ETF by 48.1% in the 4th quarter. UBS Group AG now owns 1,500,000 shares of the company’s stock worth $23,325,000 after buying an additional 487,097 shares during the last quarter. Financial Engines Advisors L.L.C. purchased a new stake in GraniteShares 2x Long AMD Daily ETF during the 3rd quarter valued at about $149,000. Finally, Flow Traders U.S. LLC purchased a new stake in GraniteShares 2x Long AMD Daily ETF during the 3rd quarter valued at 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.