ProShares Ultra TSLA (NYSEARCA:TSLI – Get Free Report) was the target of a large drop in short interest in the month of June. As of June 15th, there was short interest totaling 6,112 shares, a drop of 80.7% from the May 31st total of 31,615 shares. Currently, 6.8% of the company’s stock are short sold. Based on an average daily trading volume, of 14,877 shares, the days-to-cover ratio is presently 0.4 days.
Institutional Inflows and Outflows
A hedge fund recently raised its position in ProShares Ultra TSLA stock. Optiver Holding B.V. grew its position in shares of ProShares Ultra TSLA (NYSEARCA:TSLI – Free Report) by 9.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,258 shares of the company’s stock after purchasing an additional 830 shares during the quarter. Optiver Holding B.V. owned approximately 10.29% of ProShares Ultra TSLA worth $209,000 as of its most recent filing with the SEC. 6.01% of the stock is currently owned by hedge funds and other institutional investors.
ProShares Ultra TSLA Trading Up 3.1%
NYSEARCA TSLI traded up $0.66 on Friday, hitting $21.83. 17,034 shares of the stock were exchanged, compared to its average volume of 15,936. The company has a 50-day moving average price of $25.79 and a 200-day moving average price of $28.93. ProShares Ultra TSLA has a fifty-two week low of $18.50 and a fifty-two week high of $46.11.
About ProShares Ultra TSLA
The GraniteShares 1x Short TSLA Daily ETF (TSLI) is an exchange-traded fund that is based on the Tesla, Inc index. The fund provides inverse (-1x) exposure, less fees and expenses, to the daily price movement for shares of Tesla stock. TSLI was launched on Aug 9, 2022 and is managed by GraniteShares.
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