YieldMax TSLA Option Income Strategy ETF (NYSEARCA:TSLY) Sees Unusually-High Trading Volume – Still a Buy?

Shares of YieldMax TSLA Option Income Strategy ETF (NYSEARCA:TSLY) saw unusually-strong trading volume on Monday . Approximately 2,871,865 shares traded hands during trading, an increase of 16% from the previous session’s volume of 2,465,478 shares.The stock last traded at $8.51 and had previously closed at $8.07.

YieldMax TSLA Option Income Strategy ETF Trading Up 6.1 %

The company’s fifty day simple moving average is $11.26 and its two-hundred day simple moving average is $13.06.

Hedge Funds Weigh In On YieldMax TSLA Option Income Strategy ETF

Hedge funds have recently bought and sold shares of the company. Sunbelt Securities Inc. boosted its holdings in YieldMax TSLA Option Income Strategy ETF by 7.0% in the fourth quarter. Sunbelt Securities Inc. now owns 219,734 shares of the company’s stock worth $3,237,000 after purchasing an additional 14,394 shares during the period. FNY Investment Advisers LLC bought a new position in shares of YieldMax TSLA Option Income Strategy ETF in the 4th quarter worth about $95,000. Finally, ORG Partners LLC grew its position in shares of 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 last quarter.

YieldMax TSLA Option Income Strategy ETF Company Profile

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.