Short Interest in ProShares Ultra TSLA (NYSEARCA:TSLI) Rises By 81.3%

ProShares Ultra TSLA (NYSEARCA:TSLI) saw a significant increase in short interest in July. As of July 31st, there was short interest totaling 41,258 shares, an increase of 81.3% from the July 15th total of 22,754 shares. Based on an average daily trading volume, of 33,196 shares, the short-interest ratio is presently 1.2 days. Approximately 45.8% of the shares of the stock are short sold.

ProShares Ultra TSLA Price Performance

Shares of TSLI stock traded up $0.24 during midday trading on Friday, reaching $16.36. 14,389 shares of the company traded hands, compared to its average volume of 18,251. The firm’s 50 day simple moving average is $20.48 and its two-hundred day simple moving average is $24.39. ProShares Ultra TSLA has a 1-year low of $12.50 and a 1-year high of $46.11.

Hedge Funds Weigh In On ProShares Ultra TSLA

An institutional investor recently raised its position in ProShares Ultra TSLA stock. Optiver Holding B.V. increased its position in shares of ProShares Ultra TSLA (NYSEARCA:TSLI) by 9.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,258 shares of the company’s stock after purchasing an additional 830 shares during the quarter. Optiver Holding B.V. owned 10.29% of ProShares Ultra TSLA worth $209,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 6.01% of the company’s stock.

ProShares Ultra TSLA Company Profile

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.