Short Interest in GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL) Declines By 37.8%

GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL) was the target of a large drop in short interest during the month of May. As of May 29th, there was short interest totaling 47,984 shares, a drop of 37.8% from the May 14th total of 77,110 shares. Based on an average trading volume of 773,677 shares, the days-to-cover ratio is presently 0.1 days. Currently, 6.8% of the company’s shares are sold short.

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

A number of large investors have recently made changes to their positions in TSL. Jane Street Group LLC bought a new stake in shares of GraniteShares 1.25X Long TSLA Daily ETF in the 2nd quarter worth approximately $155,000. Optiver Holding B.V. grew its position in shares of GraniteShares 1.25X Long TSLA Daily ETF by 22.4% in the 1st quarter. Optiver Holding B.V. now owns 15,774 shares of the company’s stock worth $229,000 after buying an additional 2,892 shares during the last quarter. Finally, Susquehanna International Group LLP grew its position 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 worth $495,000 after buying an additional 10,597 shares during the last quarter. 51.48% of the stock is currently owned by institutional investors.

GraniteShares 1.25X Long TSLA Daily ETF Price Performance

TSL opened at $16.06 on Monday. The stock’s 50 day simple moving average is $15.76 and its 200 day simple moving average is $16.83. GraniteShares 1.25X Long TSLA Daily ETF has a 1 year low of $11.11 and a 1 year high of $21.31. The firm has a market cap of $11.40 million, a price-to-earnings ratio of 11.23 and a beta of 1.88.

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.