Short Interest in ProShares Ultra TSLA (NYSEARCA:TSLI) Drops By 77.7%

ProShares Ultra TSLA (NYSEARCA:TSLI) was the recipient of a significant decline in short interest in August. As of August 14th, there was short interest totaling 9,182 shares, a decline of 77.7% from the July 30th total of 41,258 shares. Based on an average daily volume of 22,440 shares, the short-interest ratio is presently 0.4 days. Approximately 10.2% of the company’s stock are sold short.

ProShares Ultra TSLA Stock Up 4.9%

Shares of TSLI traded up $0.81 during trading hours on Thursday, reaching $17.36. 7,208 shares of the stock traded hands, compared to its average volume of 17,884. The stock has a fifty day simple moving average of $19.23 and a 200 day simple moving average of $23.59. ProShares Ultra TSLA has a 52 week low of $12.50 and a 52 week high of $46.11.

Institutional Investors Weigh In On ProShares Ultra TSLA

A hedge fund recently raised its stake in ProShares Ultra TSLA stock. Optiver Holding B.V. raised its position in shares of ProShares Ultra TSLA (NYSEARCA:TSLI) by 9.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,258 shares of the company’s stock after buying an additional 830 shares during the quarter. 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 currently owned by 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.