GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL) Sees Significant Growth in Short Interest

GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL) was the recipient of a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 707,300 shares, a growth of 37,126.3% from the March 31st total of 1,900 shares. Based on an average daily trading volume, of 182,500 shares, the days-to-cover ratio is presently 3.9 days.

Institutional Investors Weigh In On GraniteShares 1.25X Long TSLA Daily ETF

An institutional investor recently raised its position in GraniteShares 1.25X Long TSLA Daily ETF stock. Wealth Effects LLC raised its holdings in GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL) by 8.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 42,076 shares of the company’s stock after acquiring an additional 3,276 shares during the period. Wealth Effects LLC owned 8.25% of GraniteShares 1.25X Long TSLA Daily ETF worth $463,000 at the end of the most recent reporting period. Institutional investors own 51.48% of the company’s stock.

GraniteShares 1.25X Long TSLA Daily ETF Stock Performance

Shares of TSL traded up $0.30 during midday trading on Thursday, hitting $6.51. 329,691 shares of the stock were exchanged, compared to its average volume of 160,132. The firm has a market cap of $5.34 million, a P/E ratio of 4.34 and a beta of -4.33. The stock has a fifty day simple moving average of $7.00 and a 200 day simple moving average of $11.28. GraniteShares 1.25X Long TSLA Daily ETF has a 52-week low of $5.13 and a 52-week high of $23.06.

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.