GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL) Sees Significant Growth in Short Interest

GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL) saw a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 707,300 shares, a growth of 37,126.3% from the March 31st total of 1,900 shares. Based on an average daily volume of 182,500 shares, the days-to-cover ratio is currently 3.9 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in GraniteShares 1.25X Long TSLA Daily ETF stock. Wealth Effects LLC increased its holdings in shares of GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL) by 8.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,076 shares of the company’s stock after purchasing an additional 3,276 shares during the period. Wealth Effects LLC owned 8.25% of GraniteShares 1.25X Long TSLA Daily ETF worth $463,000 as of its most recent SEC filing. Institutional investors and hedge funds own 51.48% of the company’s stock.

GraniteShares 1.25X Long TSLA Daily ETF Stock Performance

Shares of GraniteShares 1.25X Long TSLA Daily ETF stock traded up $0.30 on Thursday, reaching $6.51. The company had a trading volume of 329,691 shares, compared to its average volume of 160,132. The firm’s 50 day moving average price is $7.00 and its two-hundred day moving average price is $11.28. The firm has a market cap of $5.34 million, a PE ratio of 4.34 and a beta of -4.33. GraniteShares 1.25X Long TSLA Daily ETF has a 52-week low of $5.13 and a 52-week high of $23.06.

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.