GraniteShares 2x Short TSLA Daily ETF (NASDAQ:TSDD) Sees Significant Decline in Short Interest

GraniteShares 2x Short TSLA Daily ETF (NASDAQ:TSDD) was the target of a large drop in short interest in January. As of January 15th, there was short interest totalling 743,900 shares, a drop of 40.0% from the December 31st total of 1,240,000 shares. Based on an average trading volume of 17,353,400 shares, the short-interest ratio is presently 0.0 days.

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

Several hedge funds have recently made changes to their positions in TSDD. IMC Chicago LLC bought a new position in GraniteShares 2x Short TSLA Daily ETF during the fourth quarter valued at about $557,000. SG Americas Securities LLC acquired a new stake in shares of GraniteShares 2x Short TSLA Daily ETF during the 4th quarter worth approximately $504,000. Jane Street Group LLC increased its position in shares of GraniteShares 2x Short TSLA Daily ETF by 61.3% during the third quarter. Jane Street Group LLC now owns 72,399 shares of the company’s stock valued at $476,000 after purchasing an additional 27,519 shares during the period. Finally, GEM Asset Management LLC acquired a new position in shares of GraniteShares 2x Short TSLA Daily ETF in the third quarter valued at $378,000.

GraniteShares 2x Short TSLA Daily ETF Trading Up 5.1 %

Shares of NASDAQ:TSDD traded up $1.67 during midday trading on Wednesday, hitting $34.20. The company’s stock had a trading volume of 925,250 shares, compared to its average volume of 842,737. GraniteShares 2x Short TSLA Daily ETF has a fifty-two week low of $24.20 and a fifty-two week high of $768.80. The stock’s 50 day simple moving average is $36.18 and its 200 day simple moving average is $121.70.

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.