GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL) Stock Price Cross Below 200-Day Moving Average – Here’s Why

GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL) crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $15.01 and traded as low as $14.16. GraniteShares 1.25X Long TSLA Daily ETF shares last traded at $14.59, with a volume of 242,475 shares.

GraniteShares 1.25X Long TSLA Daily ETF Stock Down 4.0%

The stock’s 50-day moving average price is $14.04 and its 200-day moving average price is $15.01. The company has a market capitalization of $11.53 million, a price-to-earnings ratio of 10.20 and a beta of 1.93.

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

An institutional investor recently bought a new stake in GraniteShares 1.25X Long TSLA Daily ETF stock. StoneX Group Inc. purchased a new position in shares of GraniteShares 1.25X Long TSLA Daily ETF (NASDAQ:TSL) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 15,998 shares of the company’s stock, valued at approximately $213,000. StoneX Group Inc. owned 2.03% of GraniteShares 1.25X Long TSLA Daily ETF at the end of the most recent reporting period. Institutional investors and hedge funds own 51.48% of the company’s stock.

GraniteShares 1.25X Long TSLA Daily ETF Company Profile

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.