GraniteShares 2x Long TSLA Daily ETF (NASDAQ:TSLR) Trading 5.9% Higher – Time to Buy?

GraniteShares 2x Long TSLA Daily ETF (NASDAQ:TSLR)’s stock price traded up 5.9% during trading on Friday . The company traded as high as $24.58 and last traded at $23.57. 2,908,037 shares changed hands during mid-day trading, an increase of 59% from the average session volume of 1,828,029 shares. The stock had previously closed at $22.25.

GraniteShares 2x Long TSLA Daily ETF Trading Up 5.9%

The firm’s 50 day moving average price is $23.06 and its two-hundred day moving average price is $28.58.

Institutional Trading of GraniteShares 2x Long TSLA Daily ETF

A number of hedge funds have recently added to or reduced their stakes in the stock. Simplex Trading LLC grew its stake in shares of GraniteShares 2x Long TSLA Daily ETF by 41.6% in the 4th quarter. Simplex Trading LLC now owns 27,752 shares of the company’s stock valued at $889,000 after purchasing an additional 8,152 shares during the last quarter. Secure Asset Management LLC purchased a new stake in shares of GraniteShares 2x Long TSLA Daily ETF during the fourth quarter worth approximately $415,000. Genesis Financial Group LLC acquired a new stake in shares of GraniteShares 2x Long TSLA Daily ETF during the fourth quarter worth $256,000. Woodward Diversified Capital LLC acquired a new stake in shares of GraniteShares 2x Long TSLA Daily ETF during the fourth quarter worth $211,000. Finally, TRUE Private Wealth Advisors purchased a new position in GraniteShares 2x Long TSLA Daily ETF in the 3rd quarter valued at $250,000.

GraniteShares 2x Long TSLA Daily ETF Company Profile

The GraniteShares 2x Long TSLA Daily ETF (TSLR) is an exchange-traded fund that mostly invests in consumer discretionary equity. The fund provides 2x leveraged exposure, less fees and expenses, to the daily price movement for shares of Tesla stock. TSLR was launched on Aug 21, 2023 and is issued by GraniteShares.