YieldMax TSLA Option Income Strategy ETF (NYSEARCA:TSLY) Shares Gap Down – Here’s Why

YieldMax TSLA Option Income Strategy ETF (NYSEARCA:TSLY)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $8.24, but opened at $7.96. YieldMax TSLA Option Income Strategy ETF shares last traded at $7.80, with a volume of 2,040,867 shares traded.

YieldMax TSLA Option Income Strategy ETF Price Performance

The firm’s 50 day simple moving average is $11.72 and its two-hundred day simple moving average is $13.22.

Hedge Funds Weigh In On YieldMax TSLA Option Income Strategy ETF

Several institutional investors and hedge funds have recently bought and sold shares of TSLY. ORG Partners LLC boosted its position in YieldMax TSLA Option Income Strategy ETF by 348.2% during the 4th quarter. ORG Partners LLC now owns 2,658 shares of the company’s stock valued at $38,000 after buying an additional 2,065 shares during the period. FNY Investment Advisers LLC bought a new position in shares of YieldMax TSLA Option Income Strategy ETF during the fourth quarter valued at about $95,000. Finally, Sunbelt Securities Inc. boosted its holdings in shares of YieldMax TSLA Option Income Strategy ETF by 5,804.0% during the third quarter. Sunbelt Securities Inc. now owns 205,340 shares of the company’s stock worth $2,930,000 after purchasing an additional 201,862 shares during the period.

About YieldMax TSLA Option Income Strategy ETF

The YieldMax TSLA Option Income Strategy ETF (TSLY) is an exchange-traded fund that mostly invests in consumer discretionary equity. The fund seeks to provide current income and capped gains on the Tesla stock (TSLA) through a synthetic covered call strategy, collateralized by cash and US Treasurys. The actively managed fund uses both standardized exchange-traded and FLEX options.