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

GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL) saw a significant increase in short interest in October. As of October 15th, there was short interest totalling 175,300 shares, an increase of 1,601.9% from the September 30th total of 10,300 shares. Based on an average daily volume of 382,800 shares, the days-to-cover ratio is presently 0.5 days.

GraniteShares 1.25X Long TSLA Daily ETF Price Performance

Shares of NASDAQ TSL traded up $0.42 during midday trading on Friday, reaching $11.11. 727,887 shares of the stock were exchanged, compared to its average volume of 327,609. The business has a 50-day simple moving average of $9.27 and a two-hundred day simple moving average of $8.28. The company has a market capitalization of $11.00 million, a price-to-earnings ratio of 7.77 and a beta of -4.33. GraniteShares 1.25X Long TSLA Daily ETF has a 12 month low of $5.13 and a 12 month high of $18.43.

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.