GraniteShares 2x Long SMCI Daily ETF (NASDAQ:SMCL) Trading Down 7.5% – Here’s Why

GraniteShares 2x Long SMCI Daily ETF (NASDAQ:SMCL) dropped 7.5% during trading on Wednesday . The stock traded as low as $4.19 and last traded at $4.19. Approximately 5,705,054 shares were traded during trading, a decline of 10% from the average daily volume of 6,324,210 shares. The stock had previously closed at $4.53.

GraniteShares 2x Long SMCI Daily ETF Price Performance

The business has a fifty day moving average of $4.76 and a 200-day moving average of $8.56.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in GraniteShares 2x Long SMCI Daily ETF stock. StoneX Group Inc. bought a new position in shares of GraniteShares 2x Long SMCI Daily ETF (NASDAQ:SMCL) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 26,089 shares of the company’s stock, valued at approximately $118,000. StoneX Group Inc. owned approximately 0.27% of GraniteShares 2x Long SMCI Daily ETF at the end of the most recent reporting period.

GraniteShares 2x Long SMCI Daily ETF Company Profile

The GraniteShares 2x Long SMCI Daily ETF (SMCL) 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 Super Micro Computer Inc (ticker: SMCI) stock. SMCL was launched on Dec 12, 2024 and is issued by GraniteShares.