Short Interest in ProShares Ultra TSLA (NYSEARCA:TSLI) Declines By 80.7%

ProShares Ultra TSLA (NYSEARCA:TSLI) was the recipient of a large decrease in short interest during the month of June. As of June 15th, there was short interest totaling 6,112 shares, a decrease of 80.7% from the May 31st total of 31,615 shares. Based on an average daily volume of 14,877 shares, the days-to-cover ratio is presently 0.4 days. Currently, 6.8% of the shares of the company are short sold.

Institutional Inflows and Outflows

A hedge fund recently raised its position in ProShares Ultra TSLA stock. Optiver Holding B.V. raised its holdings in shares of ProShares Ultra TSLA (NYSEARCA:TSLI) by 9.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,258 shares of the company’s stock after acquiring an additional 830 shares during the quarter. Optiver Holding B.V. owned approximately 10.29% of ProShares Ultra TSLA worth $209,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 6.01% of the company’s stock.

ProShares Ultra TSLA Trading Down 0.8%

Shares of NYSEARCA:TSLI opened at $21.17 on Friday. The firm’s 50 day moving average price is $25.85 and its 200-day moving average price is $28.98. ProShares Ultra TSLA has a twelve month low of $18.50 and a twelve month high of $46.11.

ProShares Ultra TSLA Company Profile

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.