GraniteShares 2x Short TSLA Daily ETF (NASDAQ:TSDD) Stock Price Up 4.3% – Should You Buy?

GraniteShares 2x Short TSLA Daily ETF (NASDAQ:TSDD)’s share price shot up 4.3% during mid-day trading on Thursday . The stock traded as high as $9.12 and last traded at $8.92. 46,024,672 shares traded hands during mid-day trading, an increase of 48% from the average session volume of 31,173,176 shares. The stock had previously closed at $8.55.

GraniteShares 2x Short TSLA Daily ETF Stock Up 4.3%

The business’s fifty day simple moving average is $8.21 and its two-hundred day simple moving average is $10.68.

GraniteShares 2x Short TSLA Daily ETF Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 29th were paid a $0.651 dividend. This represents a c) annualized dividend and a dividend yield of 87.6%. The ex-dividend date was Monday, December 29th.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. raised its holdings in GraniteShares 2x Short TSLA Daily ETF by 357.2% in the 2nd quarter. SBI Securities Co. Ltd. now owns 2,492 shares of the company’s stock valued at $57,000 after acquiring an additional 1,947 shares in the last quarter. StoneX Group Inc. bought a new stake in shares of GraniteShares 2x Short TSLA Daily ETF during the second quarter valued at approximately $427,000. Jump Financial LLC acquired a new position in shares of GraniteShares 2x Short TSLA Daily ETF in the second quarter valued at $495,000. Jane Street Group LLC raised its stake in shares of GraniteShares 2x Short TSLA Daily ETF by 15.3% in the second quarter. Jane Street Group LLC now owns 16,371 shares of the company’s stock valued at $375,000 after purchasing an additional 2,167 shares in the last quarter. Finally, Optiver Holding B.V. lifted its position in GraniteShares 2x Short TSLA Daily ETF by 173.1% in the third quarter. Optiver Holding B.V. now owns 19,286 shares of the company’s stock worth $194,000 after purchasing an additional 12,224 shares during the period.

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.