Short Interest in ProShares Ultra TSLA (NYSEARCA:TSLI) Drops By 57.1%

ProShares Ultra TSLA (NYSEARCA:TSLI) saw a significant decrease in short interest in the month of August. As of August 31st, there was short interest totaling 3,943 shares, a decrease of 57.1% from the August 15th total of 9,182 shares. Approximately 4.4% of the company’s stock are short sold. Based on an average daily trading volume, of 13,207 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Trading of ProShares Ultra TSLA

A hedge fund recently raised its position in ProShares Ultra TSLA stock. Optiver Holding B.V. increased its position in shares of ProShares Ultra TSLA (NYSEARCA:TSLI) by 9.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,258 shares of the company’s stock after buying an additional 830 shares during the quarter. Optiver Holding B.V. owned 10.29% of ProShares Ultra TSLA worth $209,000 as of its most recent SEC filing. 6.01% of the stock is currently owned by institutional investors and hedge funds.

ProShares Ultra TSLA Stock Down 1.4%

Shares of TSLI stock traded down $0.25 during trading hours on Tuesday, hitting $17.20. 20,347 shares of the company were exchanged, compared to its average volume of 18,164. ProShares Ultra TSLA has a 52 week low of $12.50 and a 52 week high of $46.11. The business has a 50 day moving average of $17.63 and a two-hundred day moving average of $22.55.

About ProShares Ultra TSLA

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.