GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL) Stock Price Down 3.8% – What’s Next?

GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL)’s share price dropped 3.8% during mid-day trading on Thursday . The company traded as low as $11.36 and last traded at $11.38. Approximately 448,860 shares were traded during mid-day trading, an increase of 68% from the average daily volume of 266,688 shares. The stock had previously closed at $11.83.

GraniteShares 1.25X Long TSLA Daily ETF Stock Up 1.6 %

The stock has a market cap of $12.61 million, a PE ratio of 8.12 and a beta of -4.33. The business’s 50-day simple moving average is $17.15 and its 200-day simple moving average is $13.54.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in GraniteShares 1.25X Long TSLA Daily ETF stock. Jane Street Group LLC grew its holdings in shares of GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL) by 8.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,904 shares of the company’s stock after buying an additional 2,299 shares during the period. Jane Street Group LLC owned 2.62% of GraniteShares 1.25X Long TSLA Daily ETF worth $324,000 as of its most recent SEC filing. 51.48% of the stock is owned by hedge funds and other institutional investors.

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.