GraniteShares 2x Short TSLA Daily ETF (NASDAQ:TSDD) Stock Price Break Above 50-Day Moving Average – Here’s Why

GraniteShares 2x Short TSLA Daily ETF (NASDAQ:TSDD)’s stock price passed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $7.40 and traded as high as $8.24. GraniteShares 2x Short TSLA Daily ETF shares last traded at $8.07, with a volume of 13,217,661 shares.

GraniteShares 2x Short TSLA Daily ETF Trading Up 21.9%

The company’s fifty day simple moving average is $7.40 and its 200-day simple moving average is $8.58.

Institutional Investors Weigh In On GraniteShares 2x Short TSLA Daily ETF

Several hedge funds have recently modified their holdings of the business. StoneX Group Inc. bought a new position in shares of GraniteShares 2x Short TSLA Daily ETF during the third quarter valued at approximately $772,000. Optiver Holding B.V. increased its holdings in GraniteShares 2x Short TSLA Daily ETF by 7.6% during the first quarter. Optiver Holding B.V. now owns 24,203 shares of the company’s stock valued at $253,000 after buying an additional 1,713 shares during the period. Group One Trading LLC bought a new position in GraniteShares 2x Short TSLA Daily ETF in the first quarter worth approximately $40,000. Finally, IMC Chicago LLC raised its stake in GraniteShares 2x Short TSLA Daily ETF by 58.4% in the first quarter. IMC Chicago LLC now owns 126,083 shares of the company’s stock worth $1,316,000 after buying an additional 46,502 shares in the last quarter.

About GraniteShares 2x Short TSLA Daily ETF

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.