GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL) Stock Price Down 0.4% – Should You Sell?

GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL)’s stock price traded down 0.4% on Wednesday . The company traded as low as $20.15 and last traded at $20.53. 234,897 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 520,127 shares. The stock had previously closed at $20.62.

GraniteShares 1.25X Long TSLA Daily ETF Trading Down 0.4%

The company’s 50 day simple moving average is $18.55 and its 200-day simple moving average is $15.76. The firm has a market cap of $33.46 million, a P/E ratio of 14.36 and a beta of 2.03.

Institutional Investors 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. Susquehanna International Group LLP boosted its stake in GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL) by 67.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,371 shares of the company’s stock after purchasing an additional 10,597 shares during the period. Susquehanna International Group LLP owned approximately 1.62% of GraniteShares 1.25X Long TSLA Daily ETF worth $495,000 at the end of the most recent quarter. Institutional investors and hedge funds own 51.48% of the company’s stock.

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.