YieldMax TSLA Option Income Strategy ETF (NYSEARCA:TSLY) Shares Gap Down – Should You Sell?

YieldMax TSLA Option Income Strategy ETF (NYSEARCA:TSLY) shares gapped down before the market opened on Wednesday . The stock had previously closed at $8.49, but opened at $8.17. YieldMax TSLA Option Income Strategy ETF shares last traded at $8.45, with a volume of 575,058 shares traded.

YieldMax TSLA Option Income Strategy ETF Trading Down 1.0 %

The firm’s 50-day simple moving average is $10.45 and its 200 day simple moving average is $12.84.

Institutional Investors Weigh In On YieldMax TSLA Option Income Strategy ETF

A number of hedge funds have recently modified their holdings of TSLY. Sunbelt Securities Inc. raised its position in YieldMax TSLA Option Income Strategy ETF by 5,804.0% in the 3rd quarter. Sunbelt Securities Inc. now owns 205,340 shares of the company’s stock valued at $2,930,000 after buying an additional 201,862 shares during the last quarter. ORG Partners LLC grew its position in YieldMax TSLA Option Income Strategy ETF by 348.2% in the fourth quarter. ORG Partners LLC now owns 2,658 shares of the company’s stock valued at $38,000 after purchasing an additional 2,065 shares in the last quarter. Finally, FNY Investment Advisers LLC bought a new stake in YieldMax TSLA Option Income Strategy ETF during the 4th quarter worth about $95,000.

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.