GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL) Stock Price Down 4.6% – Here’s What Happened

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

GraniteShares 1.25X Long TSLA Daily ETF Trading Down 4.6 %

The firm has a market capitalization of $18.54 million, a P/E ratio of 11.57 and a beta of -4.33. The company has a 50 day simple moving average of $18.25 and a two-hundred day simple moving average of $12.90.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in GraniteShares 1.25X Long TSLA Daily ETF stock. Jane Street Group LLC raised its position in shares of GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL) by 8.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,904 shares of the company’s stock after acquiring an additional 2,299 shares during the period. Jane Street Group LLC owned approximately 2.62% of GraniteShares 1.25X Long TSLA Daily ETF worth $324,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 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.