GraniteShares 2x Short TSLA Daily ETF (NASDAQ:TSDD) Sees Large Increase in Short Interest

GraniteShares 2x Short TSLA Daily ETF (NASDAQ:TSDD) was the recipient of a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 1,280,000 shares, a growth of 44.8% from the November 15th total of 883,900 shares. Based on an average daily volume of 8,811,200 shares, the days-to-cover ratio is currently 0.1 days.

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

Hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC raised its stake 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 acquiring an additional 27,519 shares during the last quarter. GEM Asset Management LLC bought a new stake in shares of GraniteShares 2x Short TSLA Daily ETF in the third quarter worth $378,000. Finally, Canton Hathaway LLC acquired a new stake in GraniteShares 2x Short TSLA Daily ETF in the second quarter valued at $64,000.

GraniteShares 2x Short TSLA Daily ETF Stock Performance

Shares of TSDD stock traded down $0.14 during mid-day trading on Friday, reaching $1.55. 22,245,315 shares of the stock traded hands, compared to its average volume of 3,203,520. The stock’s fifty day simple moving average is $4.79 and its two-hundred day simple moving average is $9.59. GraniteShares 2x Short TSLA Daily ETF has a 1-year low of $1.55 and a 1-year high of $38.44.

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.