GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL) Stock Break Above 200 Day Moving Average – Here’s Why

GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL) passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $15.10 and traded as high as $15.70. GraniteShares 1.25X Long TSLA Daily ETF shares last traded at $15.67, with a volume of 144,378 shares traded.

GraniteShares 1.25X Long TSLA Daily ETF Trading Down 0.3%

The company has a 50-day moving average price of $13.89 and a two-hundred day moving average price of $15.07. The stock has a market cap of $12.21 million, a P/E ratio of 10.80 and a beta of 1.99.

Hedge Funds Weigh In On GraniteShares 1.25X Long TSLA Daily ETF

A hedge fund recently raised its position in GraniteShares 1.25X Long TSLA Daily ETF stock. Optiver Holding B.V. increased its position in shares of GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL) by 22.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,774 shares of the company’s stock after purchasing an additional 2,892 shares during the quarter. Optiver Holding B.V. owned approximately 2.22% of GraniteShares 1.25X Long TSLA Daily ETF worth $229,000 as of its most recent filing with the SEC. 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.