GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL) Stock Price Down 1% – Should You Sell?

GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL)’s share price dropped 1% during trading on Thursday. The stock traded as low as $13.85 and last traded at $14.16. 241,657 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 890,294 shares. The stock had previously closed at $14.30.

GraniteShares 1.25X Long TSLA Daily ETF Price Performance

The company has a market cap of $13.06 million, a price-to-earnings ratio of 10.15 and a beta of 1.99. The business’s fifty day moving average price is $13.32 and its 200 day moving average price is $14.57.

Institutional Trading of GraniteShares 1.25X Long TSLA Daily ETF

An institutional investor recently raised its stake in GraniteShares 1.25X Long TSLA Daily ETF stock. Optiver Holding B.V. raised its position in GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL) by 22.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 15,774 shares of the company’s stock after purchasing an additional 2,892 shares during the period. Optiver Holding B.V. owned 2.22% of GraniteShares 1.25X Long TSLA Daily ETF worth $229,000 as of its most recent filing with the SEC. 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.