GraniteShares 2x Long TSLA Daily ETF (NASDAQ:TSLR) Trading Down 1.5% – Time to Sell?

GraniteShares 2x Long TSLA Daily ETF (NASDAQ:TSLR)’s stock price dropped 1.5% on Thursday . The stock traded as low as $20.05 and last traded at $20.68. Approximately 758,146 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 1,879,050 shares. The stock had previously closed at $21.00.

GraniteShares 2x Long TSLA Daily ETF Stock Down 1.5%

The business’s fifty day moving average is $23.70 and its 200-day moving average is $24.57.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TSLR. Simplex Trading LLC boosted its stake in shares of GraniteShares 2x Long TSLA Daily ETF by 41.6% during the 4th quarter. Simplex Trading LLC now owns 27,752 shares of the company’s stock worth $889,000 after acquiring an additional 8,152 shares during the last quarter. TRUE Private Wealth Advisors purchased a new stake in shares of GraniteShares 2x Long TSLA Daily ETF in the 3rd quarter worth $250,000. Wolverine Trading LLC purchased a new stake in shares of GraniteShares 2x Long TSLA Daily ETF in the 3rd quarter worth $408,000. Group One Trading LLC bought a new position in GraniteShares 2x Long TSLA Daily ETF in the 3rd quarter worth $500,000. Finally, Optiver Holding B.V. raised its holdings in GraniteShares 2x Long TSLA Daily ETF by 149.8% in the 1st quarter. Optiver Holding B.V. now owns 58,455 shares of the company’s stock worth $1,208,000 after purchasing an additional 35,051 shares during the period.

About GraniteShares 2x Long TSLA Daily ETF

The GraniteShares 2x Long TSLA Daily ETF (TSLR) is an exchange-traded fund that mostly invests in consumer discretionary equity. The fund provides 2x leveraged exposure, less fees and expenses, to the daily price movement for shares of Tesla stock. TSLR was launched on Aug 21, 2023 and is issued by GraniteShares.