ProShares Ultra TSLA (NYSEARCA:TSLI) Short Interest Up 186.8% in June

ProShares Ultra TSLA (NYSEARCA:TSLIGet Free Report) was the recipient of a large increase in short interest during the month of June. As of June 30th, there was short interest totaling 17,530 shares, an increase of 186.8% from the June 15th total of 6,112 shares. Currently, 19.5% of the company’s shares are sold short. Based on an average daily trading volume, of 22,765 shares, the days-to-cover ratio is presently 0.8 days.

ProShares Ultra TSLA Price Performance

Shares of NYSEARCA TSLI traded up $0.19 during midday trading on Tuesday, hitting $23.05. 11,410 shares of the company traded hands, compared to its average volume of 16,656. ProShares Ultra TSLA has a 12-month low of $18.50 and a 12-month high of $46.11. The stock has a 50-day moving average price of $25.97 and a 200 day moving average price of $27.45.

Hedge Funds Weigh In On ProShares Ultra TSLA

An institutional investor recently raised its position in ProShares Ultra TSLA stock. Optiver Holding B.V. grew its stake in ProShares Ultra TSLA (NYSEARCA:TSLIFree Report) by 9.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 10.29% of ProShares Ultra TSLA worth $209,000 at the end of the most recent quarter. 6.01% of the stock is currently owned by institutional investors.

About ProShares Ultra TSLA

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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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