GraniteShares 2x Long TSLA Daily ETF (NASDAQ:TSLR) Trading 0.2% Higher – Still a Buy?

Shares of GraniteShares 2x Long TSLA Daily ETF (NASDAQ:TSLR) rose 0.2% during trading on Thursday . The company traded as high as $26.45 and last traded at $26.00. Approximately 1,395,293 shares traded hands during mid-day trading, a decline of 22% from the average daily volume of 1,799,898 shares. The stock had previously closed at $25.95.

GraniteShares 2x Long TSLA Daily ETF Stock Performance

The stock’s 50 day simple moving average is $30.52 and its 200-day simple moving average is $28.97.

Hedge Funds Weigh In On GraniteShares 2x Long TSLA Daily ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Group One Trading LLC purchased a new stake in GraniteShares 2x Long TSLA Daily ETF during the 3rd quarter valued at about $500,000. Secure Asset Management LLC purchased a new position in shares of GraniteShares 2x Long TSLA Daily ETF in the fourth quarter worth about $415,000. Wolverine Trading LLC acquired a new stake in shares of GraniteShares 2x Long TSLA Daily ETF during the third quarter worth about $408,000. Jump Financial LLC purchased a new stake in GraniteShares 2x Long TSLA Daily ETF in the second quarter valued at approximately $223,000. Finally, Simplex Trading LLC boosted its position in GraniteShares 2x Long TSLA Daily ETF by 41.6% in the fourth quarter. Simplex Trading LLC now owns 27,752 shares of the company’s stock valued at $889,000 after buying an additional 8,152 shares during the last quarter.

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.