GraniteShares 2x Short TSLA Daily ETF (NASDAQ:TSDD) Shares Up 6.5% – Here’s Why

Shares of GraniteShares 2x Short TSLA Daily ETF (NASDAQ:TSDD) were up 6.5% on Thursday . The stock traded as high as $10.23 and last traded at $10.17. Approximately 42,836,679 shares were traded during mid-day trading, an increase of 25% from the average daily volume of 34,374,102 shares. The stock had previously closed at $9.55.

GraniteShares 2x Short TSLA Daily ETF Stock Up 6.4%

The stock has a 50 day moving average price of $8.78 and a 200-day moving average price of $9.66.

GraniteShares 2x Short TSLA Daily ETF Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 29th were paid a $0.651 dividend. The ex-dividend date of this dividend was Monday, December 29th. This represents a c) dividend on an annualized basis and a dividend yield of 72.2%.

Hedge Funds Weigh In On GraniteShares 2x Short TSLA Daily ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. HRT Financial LP purchased a new position in shares of GraniteShares 2x Short TSLA Daily ETF during the fourth quarter valued at approximately $822,000. IMC Chicago LLC bought a new position in GraniteShares 2x Short TSLA Daily ETF in the 4th quarter valued at $615,000. Renaissance Technologies LLC purchased a new stake in GraniteShares 2x Short TSLA Daily ETF in the fourth quarter worth $554,000. Headlands Technologies LLC purchased a new stake in shares of GraniteShares 2x Short TSLA Daily ETF during the fourth quarter valued at $450,000. Finally, XTX Topco Ltd purchased a new stake in shares of GraniteShares 2x Short TSLA Daily ETF during the fourth quarter valued at $389,000.

GraniteShares 2x Short TSLA Daily ETF Company Profile

The GraniteShares 2x Short TSLA Daily ETF (TSDD) is an exchange-traded fund that mostly invests in consumer discretionary equity. The fund provides 2x inverse leveraged exposure, less fees and expenses, to the daily price movement for shares of Tesla stock. TSDD was launched on Aug 21, 2023 and is issued by GraniteShares.