GraniteShares 2x Long TSLA Daily ETF (NASDAQ:TSLR) Trading Down 1.1% – Here’s Why

GraniteShares 2x Long TSLA Daily ETF (NASDAQ:TSLR)’s stock price fell 1.1% during mid-day trading on Friday . The company traded as low as $16.30 and last traded at $16.59. 1,568,341 shares traded hands during trading, a decline of 11% from the average daily volume of 1,756,846 shares. The stock had previously closed at $16.77.

GraniteShares 2x Long TSLA Daily ETF Stock Performance

The stock has a 50 day simple moving average of $15.82 and a 200 day simple moving average of $20.37.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TSLR. Secure Asset Management LLC raised its position in GraniteShares 2x Long TSLA Daily ETF by 5.3% during the second quarter. Secure Asset Management LLC now owns 17,304 shares of the company’s stock valued at $421,000 after purchasing an additional 872 shares in the last quarter. Headlands Technologies LLC bought a new stake in GraniteShares 2x Long TSLA Daily ETF during the second quarter worth $391,000. Optiver Holding B.V. boosted its holdings in shares of GraniteShares 2x Long TSLA Daily ETF by 149.8% in the 1st quarter. Optiver Holding B.V. now owns 58,455 shares of the company’s stock valued at $1,208,000 after purchasing an additional 35,051 shares in the last quarter. Finally, IMC Chicago LLC acquired a new stake in shares of GraniteShares 2x Long TSLA Daily ETF in the 1st quarter valued at $408,000.

GraniteShares 2x Long TSLA Daily ETF Company Profile

The GraniteShares 2x Long TSLA Daily ETF (TSLR) is an exchange-traded fund that mostly invests in consumer discretionary equity. The fund provides 2x leveraged exposure, less fees and expenses, to the daily price movement for shares of Tesla stock. TSLR was launched on Aug 21, 2023 and is issued by GraniteShares.