GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL) Shares Down 0.4% – Here’s What Happened

GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL) dropped 0.4% during mid-day trading on Wednesday . The company traded as low as $20.15 and last traded at $20.53. Approximately 234,897 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 520,127 shares. The stock had previously closed at $20.62.

GraniteShares 1.25X Long TSLA Daily ETF Stock Performance

The company has a market cap of $33.46 million, a price-to-earnings ratio of 14.36 and a beta of 2.03. The company’s 50 day moving average price is $18.50 and its 200 day moving average price is $15.72.

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

A hedge fund recently bought a new stake in GraniteShares 1.25X Long TSLA Daily ETF stock. Jane Street Group LLC purchased a new position in GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 12,301 shares of the company’s stock, valued at approximately $155,000. Jane Street Group LLC owned about 1.05% of GraniteShares 1.25X Long TSLA Daily ETF at the end of the most recent reporting period. Institutional investors and hedge funds own 51.48% of the company’s stock.

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.