GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL) Trading Down 1.5% – Here’s Why

GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL)’s stock price traded down 1.5% during mid-day trading on Wednesday . The company traded as low as $14.31 and last traded at $14.39. Approximately 351,752 shares changed hands during trading, a decline of 67% from the average session volume of 1,053,977 shares. The stock had previously closed at $14.61.

GraniteShares 1.25X Long TSLA Daily ETF Stock Down 1.5%

The firm has a 50-day simple moving average of $15.99 and a 200 day simple moving average of $16.11. The company has a market cap of $11.37 million, a price-to-earnings ratio of 10.06 and a beta of 1.89.

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

Hedge funds have recently modified their holdings of the business. Susquehanna International Group LLP increased its holdings in shares of GraniteShares 1.25X Long TSLA Daily ETF by 67.2% in the 3rd quarter. Susquehanna International Group LLP now owns 26,371 shares of the company’s stock valued at $495,000 after acquiring an additional 10,597 shares during the period. Optiver Holding B.V. boosted its stake in GraniteShares 1.25X Long TSLA Daily ETF by 22.4% during the 1st quarter. Optiver Holding B.V. now owns 15,774 shares of the company’s stock worth $229,000 after purchasing an additional 2,892 shares during the period. Finally, Jane Street Group LLC purchased a new position in GraniteShares 1.25X Long TSLA Daily ETF during the 2nd quarter worth $155,000. 51.48% of the stock is currently owned by hedge funds and other institutional investors.

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.