GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL) Shares Up 1.1%

GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL) were up 1.1% on Friday . The company traded as high as $7.14 and last traded at $7.11. Approximately 283,625 shares were traded during mid-day trading, an increase of 46% from the average daily volume of 193,952 shares. The stock had previously closed at $7.03.

GraniteShares 1.25X Long TSLA Daily ETF Price Performance

The company has a market cap of $5.69 million, a price-to-earnings ratio of 4.97 and a beta of -4.33. The company’s 50-day simple moving average is $6.73 and its 200-day simple moving average is $8.63.

Institutional Trading of GraniteShares 1.25X Long TSLA Daily ETF

An institutional investor recently raised its position in GraniteShares 1.25X Long TSLA Daily ETF stock. Wealth Effects LLC increased its stake in GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL) by 8.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,076 shares of the company’s stock after buying an additional 3,276 shares during the period. Wealth Effects LLC owned about 8.25% of GraniteShares 1.25X Long TSLA Daily ETF worth $463,000 at the end of the most recent reporting period. 51.48% of the stock is currently owned by hedge funds and other institutional investors.

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.