Direxion Daily TSLA Bear 1X Shares (NASDAQ:TSLS) Shares Set to Reverse Split on Thursday, March 5th

Direxion Daily TSLA Bear 1X Shares (NASDAQ:TSLS) shares are going to reverse split on Thursday, March 5th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, March 4th.

Direxion Daily TSLA Bear 1X Shares Price Performance

Shares of Direxion Daily TSLA Bear 1X Shares stock opened at $5.54 on Wednesday. The company’s fifty day simple moving average is $5.22 and its two-hundred day simple moving average is $5.65. Direxion Daily TSLA Bear 1X Shares has a 12-month low of $4.62 and a 12-month high of $13.88.

Direxion Daily TSLA Bear 1X Shares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 23rd were issued a dividend of $0.0495 per share. This is an increase from Direxion Daily TSLA Bear 1X Shares’s previous quarterly dividend of $0.04. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Tuesday, December 23rd.

Institutional Investors Weigh In On Direxion Daily TSLA Bear 1X Shares

Several institutional investors and hedge funds have recently bought and sold shares of TSLS. Simplex Trading LLC bought a new stake in shares of Direxion Daily TSLA Bear 1X Shares in the 2nd quarter worth approximately $47,000. SBI Securities Co. Ltd. boosted its holdings in Direxion Daily TSLA Bear 1X Shares by 1,020.7% in the second quarter. SBI Securities Co. Ltd. now owns 12,541 shares of the company’s stock valued at $98,000 after acquiring an additional 11,422 shares in the last quarter. StoneX Group Inc. boosted its holdings in Direxion Daily TSLA Bear 1X Shares by 265.9% in the second quarter. StoneX Group Inc. now owns 61,950 shares of the company’s stock valued at $486,000 after acquiring an additional 45,021 shares in the last quarter. Group One Trading LLC increased its position in Direxion Daily TSLA Bear 1X Shares by 711.2% during the 2nd quarter. Group One Trading LLC now owns 39,628 shares of the company’s stock valued at $311,000 after purchasing an additional 34,743 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in Direxion Daily TSLA Bear 1X Shares by 207.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 138,578 shares of the company’s stock worth $1,086,000 after purchasing an additional 93,459 shares in the last quarter.

About Direxion Daily TSLA Bear 1X Shares

The Direxion Daily TSLA Bear 1X Shares (TSLS) 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. TSLS was launched on Aug 9, 2022 and is managed by Direxion.