ProShares Ultra TSLA (NYSEARCA:TSLI) Stock Jumps 8.3% – Should You Buy?

ProShares Ultra TSLA (NYSEARCA:TSLI – Get Free Report)’s stock price were up 8.3% during trading on Friday. The company traded as high as $16.77 and last traded at $16.41. Approximately 10,703 shares traded hands during mid-day trading, a decline of 36% from the average daily volume of 16,606 shares. The stock had previously closed at $15.15.

ProShares Ultra TSLA Stock Up 8.3%

The company has a fifty day moving average of $18.48 and a two-hundred day moving average of $22.73.

Institutional Investors Weigh In On ProShares Ultra TSLA

A hedge fund recently raised its stake in ProShares Ultra TSLA stock. Optiver Holding B.V. boosted its holdings in ProShares Ultra TSLA (NYSEARCA:TSLI – Free Report) by 9.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,258 shares of the company’s stock after purchasing 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 quarter. 6.01% of the stock is currently owned by institutional investors and hedge funds.

ProShares Ultra TSLA Company Profile

(Get Free Report)

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.

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