ProShares Ultra TSLA (NYSEARCA:TSLI) Stock Price Down 4.6% – Here’s Why

ProShares Ultra TSLA (NYSEARCA:TSLI) shares traded down 4.6% during mid-day trading on Friday. The company traded as low as $16.50 and last traded at $16.63. 10,148 shares changed hands during trading, a decline of 41% from the average session volume of 17,181 shares. The stock had previously closed at $17.43.

ProShares Ultra TSLA Trading Down 4.6%

The stock has a fifty day simple moving average of $17.61 and a two-hundred day simple moving average of $21.22.

Institutional Inflows and Outflows

An institutional investor recently raised its position in ProShares Ultra TSLA stock. Optiver Holding B.V. lifted its position in ProShares Ultra TSLA (NYSEARCA:TSLI) by 9.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,258 shares of the company’s stock after acquiring an additional 830 shares during the quarter. Optiver Holding B.V. owned approximately 10.29% of ProShares Ultra TSLA worth $209,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 6.01% of the company’s stock.

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.