GraniteShares 2x Short TSLA Daily ETF (NASDAQ:TSDD) Stock Price Up 7.4% – Still a Buy?

GraniteShares 2x Short TSLA Daily ETF (NASDAQ:TSDD) shares traded up 7.4% on Wednesday . The stock traded as high as $9.42 and last traded at $9.14. 32,087,790 shares traded hands during trading, an increase of 9% from the average session volume of 29,344,301 shares. The stock had previously closed at $8.51.

GraniteShares 2x Short TSLA Daily ETF Price Performance

The firm has a 50-day simple moving average of $8.15 and a 200-day simple moving average of $12.02.

GraniteShares 2x Short TSLA Daily ETF Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 29th were issued a dividend of $0.651 per share. This represents a c) dividend on an annualized basis and a yield of 85.5%. The ex-dividend date of this dividend was Monday, December 29th.

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

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

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.