GraniteShares 2x Long PDD Daily ETF (PDDL)

The GraniteShares 2x Long PDD Daily ETF (PDDL) is a leveraged single-stock ETF from GraniteShares. It seeks daily investment results equal to two times the daily percentage change in the share price of PDD Holdings, the parent of the Pinduoduo e-commerce platform in China and the Temu online marketplace.

The fund obtains its exposure mainly through swap agreements and similar instruments rather than by holding only the stock itself. Because it resets its leverage every day, its target applies to one-day returns only, and results over longer periods can differ meaningfully from twice the stock's return due to compounding.

PDDL trades on Nasdaq and is designed as a short-term trading tool.