GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL) Shares Down 4.1% – Should You Sell?

GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL) dropped 4.1% during trading on Friday . The company traded as low as $14.22 and last traded at $14.37. Approximately 1,439,136 shares were traded during trading, an increase of 45% from the average daily volume of 990,227 shares. The stock had previously closed at $14.99.

GraniteShares 1.25X Long TSLA Daily ETF Price Performance

The stock has a market capitalization of $20.98 million, a PE ratio of 10.05 and a beta of 2.03. The firm’s 50 day simple moving average is $16.80 and its 200 day simple moving average is $17.59.

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

A hedge fund recently raised its stake in GraniteShares 1.25X Long TSLA Daily ETF stock. Susquehanna International Group LLP boosted its holdings in GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL) by 67.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,371 shares of the company’s stock after purchasing an additional 10,597 shares during the period. Susquehanna International Group LLP owned approximately 1.62% of GraniteShares 1.25X Long TSLA Daily ETF worth $495,000 at the end of the most recent reporting period. 51.48% of the stock is owned by hedge funds and other institutional investors.

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.