Short Interest in GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL) Declines By 56.0%

GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL) saw a significant drop in short interest in July. As of July 15th, there was short interest totaling 58,216 shares, a drop of 56.0% from the June 30th total of 132,324 shares. Currently, 7.4% of the shares of the stock are short sold. Based on an average trading volume of 606,705 shares, the short-interest ratio is currently 0.1 days.

Hedge Funds Weigh In On GraniteShares 1.25X Long TSLA Daily ETF

Several institutional investors have recently added to or reduced their stakes in the company. Susquehanna International Group LLP boosted its position in shares of GraniteShares 1.25X Long TSLA Daily ETF by 67.2% during the 3rd quarter. Susquehanna International Group LLP now owns 26,371 shares of the company’s stock valued at $495,000 after acquiring an additional 10,597 shares during the last quarter. Jane Street Group LLC bought a new stake in GraniteShares 1.25X Long TSLA Daily ETF in the second quarter worth $155,000. Finally, Optiver Holding B.V. increased its position in GraniteShares 1.25X Long TSLA Daily ETF by 22.4% in the first quarter. Optiver Holding B.V. now owns 15,774 shares of the company’s stock worth $229,000 after purchasing an additional 2,892 shares during the last quarter. Hedge funds and other institutional investors own 51.48% of the company’s stock.

GraniteShares 1.25X Long TSLA Daily ETF Stock Down 3.6%

TSL stock traded down $0.40 during mid-day trading on Wednesday, hitting $10.76. The company had a trading volume of 415,291 shares, compared to its average volume of 1,041,262. The company has a market capitalization of $7.85 million, a price-to-earnings ratio of 7.52 and a beta of 1.89. GraniteShares 1.25X Long TSLA Daily ETF has a 12-month low of $10.73 and a 12-month high of $21.31. The company has a 50-day moving average price of $15.56 and a 200 day moving average price of $15.92.

GraniteShares 1.25X Long TSLA Daily ETF Company Profile

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.