GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL) Sees Large Drop in Short Interest

GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL) was the target of a large decline in short interest during the month of June. As of June 30th, there was short interest totalling 41,600 shares, a decline of 44.9% from the June 15th total of 75,500 shares. Based on an average trading volume of 382,400 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Investors Weigh In On GraniteShares 1.25X Long TSLA Daily ETF

An institutional investor recently raised its position in GraniteShares 1.25X Long TSLA Daily ETF stock. Wealth Effects LLC increased its holdings in shares of GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL) by 8.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,076 shares of the company’s stock after buying an additional 3,276 shares during the quarter. Wealth Effects LLC owned 8.25% of GraniteShares 1.25X Long TSLA Daily ETF worth $463,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 51.48% of the company’s stock.

GraniteShares 1.25X Long TSLA Daily ETF Trading Down 10.5 %

Shares of TSL opened at $9.97 on Friday. GraniteShares 1.25X Long TSLA Daily ETF has a 1-year low of $5.13 and a 1-year high of $23.06. The stock has a market capitalization of $9.07 million, a P/E ratio of 6.97 and a beta of -4.33. The business’s 50-day moving average price is $7.50 and its 200 day moving average price is $7.84.

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.