ProShares Ultra TSLA (NYSEARCA:TSLI) Sees Large Decline in Short Interest

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

ProShares Ultra TSLA Stock Down 2.4%

Shares of NYSEARCA:TSLI traded down $0.43 during mid-day trading on Monday, reaching $17.68. 19,539 shares of the stock were exchanged, compared to its average volume of 18,159. ProShares Ultra TSLA has a one year low of $12.50 and a one year high of $46.11. The stock’s 50 day simple moving average is $17.80 and its 200-day simple moving average is $22.61.

Hedge Funds Weigh In On ProShares Ultra TSLA

An institutional investor recently raised its stake in ProShares Ultra TSLA stock. Optiver Holding B.V. grew its holdings in ProShares Ultra TSLA (NYSEARCA:TSLI) by 9.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,258 shares of the company’s stock after purchasing an additional 830 shares during the period. Optiver Holding B.V. owned about 10.29% of ProShares Ultra TSLA worth $209,000 at the end of the most recent quarter. 6.01% of the stock is owned by hedge funds and other institutional investors.

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.