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

GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL) was the recipient of a large growth in short interest in 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 trading volume of 182,500 shares, the short-interest ratio is presently 3.9 days.

GraniteShares 1.25X Long TSLA Daily ETF Stock Performance

GraniteShares 1.25X Long TSLA Daily ETF stock opened at $6.50 on Friday. GraniteShares 1.25X Long TSLA Daily ETF has a 52 week low of $5.13 and a 52 week high of $23.06. The stock has a market capitalization of $5.33 million, a P/E ratio of 4.55 and a beta of -4.33. The stock has a fifty day moving average of $6.93 and a 200-day moving average of $11.16.

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

A hedge fund recently raised its stake in GraniteShares 1.25X Long TSLA Daily ETF stock. Wealth Effects LLC lifted its holdings in shares of GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL) by 8.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 42,076 shares of the company’s stock after buying an additional 3,276 shares during the period. Wealth Effects LLC owned about 8.25% of GraniteShares 1.25X Long TSLA Daily ETF worth $463,000 as of its most recent filing with the SEC. 51.48% of the stock is currently owned by institutional investors and hedge funds.

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.