Short Interest in Direxion Daily TSLA Bear 1X Shares (NASDAQ:TSLS) Declines By 68.4%

Direxion Daily TSLA Bear 1X Shares (NASDAQ:TSLS) was the target of a significant drop in short interest in May. As of May 29th, there was short interest totaling 50,241 shares, a drop of 68.4% from the May 14th total of 158,776 shares. Approximately 3.8% of the company’s shares are short sold. Based on an average trading volume of 424,260 shares, the short-interest ratio is presently 0.1 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TSLS. Group One Trading LLC grew its position in Direxion Daily TSLA Bear 1X Shares by 711.2% during the second 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 in the last quarter. Tower Research Capital LLC TRC grew its position in Direxion Daily TSLA Bear 1X Shares by 207.1% during the second quarter. Tower Research Capital LLC TRC now owns 138,578 shares of the company’s stock valued at $1,086,000 after purchasing an additional 93,459 shares in the last quarter. Advisory Services Network LLC purchased a new position in Direxion Daily TSLA Bear 1X Shares during the second quarter valued at approximately $1,360,000. SBI Securities Co. Ltd. grew its position in Direxion Daily TSLA Bear 1X Shares by 21.6% during the third quarter. SBI Securities Co. Ltd. now owns 15,255 shares of the company’s stock valued at $82,000 after purchasing an additional 2,714 shares in the last quarter. Finally, Cibc World Market Inc. grew its position in Direxion Daily TSLA Bear 1X Shares by 41.2% during the third quarter. Cibc World Market Inc. now owns 108,644 shares of the company’s stock valued at $585,000 after purchasing an additional 31,712 shares in the last quarter.

Direxion Daily TSLA Bear 1X Shares Stock Performance

Shares of Direxion Daily TSLA Bear 1X Shares stock traded down $0.97 during trading on Friday, hitting $53.66. The stock had a trading volume of 1,546,479 shares, compared to its average volume of 3,061,181. The stock has a 50 day simple moving average of $55.92 and a 200 day simple moving average of $54.60. Direxion Daily TSLA Bear 1X Shares has a 1 year low of $46.20 and a 1 year high of $85.30.

Direxion Daily TSLA Bear 1X Shares Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th were given a dividend of $0.338 per share. The ex-dividend date of this dividend was Tuesday, March 24th. This represents a $1.35 dividend on an annualized basis and a yield of 2.5%.

Direxion Daily TSLA Bear 1X Shares Company Profile

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.