GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL) Shares Down 1.5% – Should You Sell?

GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL)’s share price traded down 1.5% during mid-day trading on Wednesday . The company traded as low as $14.31 and last traded at $14.39. Approximately 351,752 shares changed hands during trading, a decline of 67% from the average daily volume of 1,053,977 shares. The stock had previously closed at $14.61.

GraniteShares 1.25X Long TSLA Daily ETF Stock Down 1.5%

The stock has a market capitalization of $11.37 million, a PE ratio of 10.06 and a beta of 1.89. The firm’s fifty day moving average is $15.99 and its 200-day moving average is $16.11.

Hedge Funds Weigh In On GraniteShares 1.25X Long TSLA Daily ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in TSL. Susquehanna International Group LLP raised its stake in shares of GraniteShares 1.25X Long TSLA Daily ETF by 67.2% during 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 in the last quarter. Optiver Holding B.V. boosted its stake in shares of GraniteShares 1.25X Long TSLA Daily ETF by 22.4% in the first quarter. Optiver Holding B.V. now owns 15,774 shares of the company’s stock valued at $229,000 after buying an additional 2,892 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in GraniteShares 1.25X Long TSLA Daily ETF during the second quarter worth $155,000. Institutional investors and hedge funds own 51.48% of the company’s stock.

GraniteShares 1.25X Long TSLA Daily ETF Company Profile

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.