GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL) Shares Down 4.6% – Should You Sell?

GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL) fell 4.6% on Wednesday . The stock traded as low as $16.42 and last traded at $16.55. 218,272 shares were traded during mid-day trading, a decline of 9% from the average session volume of 239,847 shares. The stock had previously closed at $17.34.

GraniteShares 1.25X Long TSLA Daily ETF Stock Down 4.2 %

The firm has a market cap of $17.05 million, a price-to-earnings ratio of 10.94 and a beta of -4.33. The business has a 50 day moving average price of $18.33 and a 200-day moving average price of $12.95.

Institutional Trading of GraniteShares 1.25X Long TSLA Daily ETF

An institutional investor recently raised its position in GraniteShares 1.25X Long TSLA Daily ETF stock. Jane Street Group LLC increased its stake in GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL) by 8.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,904 shares of the company’s stock after buying an additional 2,299 shares during the period. Jane Street Group LLC owned about 2.62% of GraniteShares 1.25X Long TSLA Daily ETF worth $324,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 51.48% of the company’s stock.

About GraniteShares 1.25X Long TSLA Daily ETF

The GraniteShares 1.25x Long TSLA Daily ETF (TSL) is an exchange-traded fund that is based on the Tesla, Inc index. The fund provides 1.25x leveraged exposure, less fees and expenses, to the daily price movement for shares of Tesla stock. TSL was launched on Aug 9, 2022 and is managed by GraniteShares.