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

GraniteShares 2x Short TSLA Daily ETF (NASDAQ:TSDD) was the recipient of a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 78,000 shares, a decline of 32.5% from the February 13th total of 115,500 shares. Based on an average daily trading volume, of 1,212,000 shares, the days-to-cover ratio is presently 0.1 days. Approximately 5.7% of the company’s shares are short sold.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in TSDD. Two Sigma Securities LLC lifted its stake in shares of GraniteShares 2x Short TSLA Daily ETF by 316.6% in the 4th quarter. Two Sigma Securities LLC now owns 53,639 shares of the company’s stock valued at $90,000 after purchasing an additional 40,763 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of GraniteShares 2x Short TSLA Daily ETF in the 4th quarter valued at about $141,000. IHT Wealth Management LLC acquired a new position in shares of GraniteShares 2x Short TSLA Daily ETF in the 4th quarter valued at about $252,000. Jane Street Group LLC lifted its stake in shares of GraniteShares 2x Short TSLA Daily ETF by 61.3% in the 3rd 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, Prosperity Wealth Management Inc. acquired a new position in shares of GraniteShares 2x Short TSLA Daily ETF in the 4th quarter valued at about $491,000.

GraniteShares 2x Short TSLA Daily ETF Price Performance

Shares of NASDAQ:TSDD opened at $67.66 on Friday. The business’s 50-day moving average is $43.71 and its 200-day moving average is $84.88. GraniteShares 2x Short TSLA Daily ETF has a 1 year low of $24.20 and a 1 year high of $768.80.

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.