ProShares Ultra TSLA (NYSEARCA:TSLI) Short Interest Down 80.7% in June

ProShares Ultra TSLA (NYSEARCA:TSLI) saw a large drop in short interest in the month of June. As of June 15th, there was short interest totaling 6,112 shares, a drop of 80.7% from the May 31st total of 31,615 shares. Based on an average daily volume of 14,877 shares, the days-to-cover ratio is presently 0.4 days. Currently, 6.8% of the shares of the company are sold short.

Institutional Inflows and Outflows

An institutional investor recently raised its position in ProShares Ultra TSLA stock. Optiver Holding B.V. lifted its stake in shares of ProShares Ultra TSLA (NYSEARCA:TSLI) by 9.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,258 shares of the company’s stock after acquiring an additional 830 shares during the quarter. Optiver Holding B.V. owned approximately 10.29% of ProShares Ultra TSLA worth $209,000 at the end of the most recent reporting period. 6.01% of the stock is currently owned by hedge funds and other institutional investors.

ProShares Ultra TSLA Price Performance

NYSEARCA:TSLI opened at $21.17 on Friday. The stock has a 50-day simple moving average of $25.85 and a two-hundred day simple moving average of $28.98. ProShares Ultra TSLA has a 52-week low of $18.50 and a 52-week high of $46.11.

ProShares Ultra TSLA Company Profile

The GraniteShares 1x Short TSLA Daily ETF (TSLI) is an exchange-traded fund that is based on the Tesla, Inc index. The fund provides inverse (-1x) exposure, less fees and expenses, to the daily price movement for shares of Tesla stock. TSLI was launched on Aug 9, 2022 and is managed by GraniteShares.