Aspects herein are directed to a tensioning device for a strand on a knitting machine. The tensioning device includes a mounting plate that may be positioned between a strand source and a feeder bar. The mounting plate supports a first pulley, a second pulley and a weighted third pulley that is movable with respect to the first pulley and the second pulley. By routing a strand over the first pulley, under the third pulley and over the second pulley, additional tension may be added to the strand through the weight of the third pulley.