GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) Sees Large Drop in Short Interest

GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) was the target of a significant decrease in short interest during the month of November. As of November 15th, there was short interest totalling 564,700 shares, a decrease of 67.4% from the October 31st total of 1,730,000 shares. Based on an average trading volume of 2,686,800 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in GraniteShares 2x Long AMD Daily ETF stock. Garden State Investment Advisory Services LLC bought a new stake in shares of GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 40,778 shares of the company’s stock, valued at approximately $670,000. Garden State Investment Advisory Services LLC owned approximately 0.48% of GraniteShares 2x Long AMD Daily ETF as of its most recent SEC filing.

GraniteShares 2x Long AMD Daily ETF Stock Performance

Shares of AMDL opened at $9.97 on Thursday. GraniteShares 2x Long AMD Daily ETF has a fifty-two week low of $8.74 and a fifty-two week high of $25.62. The firm has a 50 day moving average price of $13.02 and a 200-day moving average price of $14.17.

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.