Short Interest in ProShares Ultra TSLA (NYSEARCA:TSLI) Expands By 81.3%

ProShares Ultra TSLA (NYSEARCA:TSLI) saw a significant increase in short interest during the month of July. As of July 31st, there was short interest totaling 41,258 shares, an increase of 81.3% from the July 15th total of 22,754 shares. Based on an average daily trading volume, of 33,196 shares, the days-to-cover ratio is currently 1.2 days. Currently, 45.8% of the shares of the company are short sold.

ProShares Ultra TSLA Price Performance

Shares of TSLI stock traded down $0.28 during trading hours on Tuesday, hitting $15.78. The stock had a trading volume of 1,760 shares, compared to its average volume of 18,114. The stock’s 50 day moving average is $20.29 and its 200 day moving average is $24.28. ProShares Ultra TSLA has a twelve month low of $12.50 and a twelve month high of $46.11.

Institutional Trading of ProShares Ultra TSLA

A hedge fund recently raised its stake in ProShares Ultra TSLA stock. Optiver Holding B.V. raised its holdings in ProShares Ultra TSLA (NYSEARCA:TSLI) by 9.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,258 shares of the company’s stock after purchasing an additional 830 shares during the quarter. Optiver Holding B.V. owned about 10.29% of ProShares Ultra TSLA worth $209,000 as of its most recent filing with the SEC. 6.01% of the stock is 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.