ProShares Ultra TSLA (NYSEARCA:TSLI) Shares Break Above 50 Day Moving Average – Here’s Why

ProShares Ultra TSLA (NYSEARCA:TSLI)’s stock price crossed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $18.54 and traded as high as $19.56. ProShares Ultra TSLA shares last traded at $19.37, with a volume of 3,565 shares.

ProShares Ultra TSLA Price Performance

The business has a fifty day moving average price of $18.54 and a 200 day moving average price of $22.52.

Institutional Trading of ProShares Ultra TSLA

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