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

GraniteShares 2x Long AMD Daily ETF (NASDAQ:AMDL) was the recipient of a large increase in short interest in November. As of November 30th, there was short interest totalling 1,170,000 shares, an increase of 107.2% from the November 15th total of 564,700 shares. Based on an average daily trading volume, of 3,285,100 shares, the days-to-cover ratio is presently 0.4 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 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 40,778 shares of the company’s stock, valued at approximately $670,000. Garden State Investment Advisory Services LLC owned about 0.48% of GraniteShares 2x Long AMD Daily ETF as of its most recent filing with the SEC.

GraniteShares 2x Long AMD Daily ETF Stock Down 5.7 %

NASDAQ:AMDL traded down $0.52 during trading hours on Friday, hitting $8.54. 16,506,006 shares of the stock were exchanged, compared to its average volume of 2,260,731. The company’s 50 day moving average is $12.00 and its two-hundred day moving average is $13.67. GraniteShares 2x Long AMD Daily ETF has a twelve month low of $8.26 and a twelve month high of $25.62.

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.