Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) Trading Down 9.5% – Time to Sell?

Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL)’s stock price fell 9.5% on Tuesday . The stock traded as low as $12.11 and last traded at $12.19. 25,582,820 shares traded hands during trading, a decline of 68% from the average session volume of 79,490,727 shares. The stock had previously closed at $13.47.

Direxion Daily TSLA Bull 2X Shares Stock Performance

The firm has a 50-day moving average price of $13.89 and a 200-day moving average price of $15.47. The stock has a market cap of $4.69 billion, a PE ratio of 88.55 and a beta of 2.67.

Direxion Daily TSLA Bull 2X Shares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd will be paid a dividend of $0.1049 per share. This represents a $0.42 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Tuesday, June 23rd.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. UBS Group AG increased its position in shares of Direxion Daily TSLA Bull 2X Shares by 9.0% during the third quarter. UBS Group AG now owns 7,933,334 shares of the company’s stock valued at $167,473,000 after acquiring an additional 654,265 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Direxion Daily TSLA Bull 2X Shares by 2,438.5% in the 1st quarter. Renaissance Technologies LLC now owns 2,198,300 shares of the company’s stock worth $26,709,000 after purchasing an additional 2,111,700 shares in the last quarter. Sloy Dahl & Holst LLC raised its stake in shares of Direxion Daily TSLA Bull 2X Shares by 19.0% in the fourth quarter. Sloy Dahl & Holst LLC now owns 1,688,402 shares of the company’s stock worth $32,265,000 after purchasing an additional 269,324 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Direxion Daily TSLA Bull 2X Shares by 1,541.0% during the fourth quarter. Bank of Montreal Can now owns 1,476,100 shares of the company’s stock valued at $28,208,000 after purchasing an additional 1,386,150 shares in the last quarter. Finally, Flow Traders U.S. LLC bought a new position in shares of Direxion Daily TSLA Bull 2X Shares during the third quarter valued at $13,256,000.

Direxion Daily TSLA Bull 2X Shares Company Profile

The Direxion Daily TSLA Bull 1.5X Shares ETF (TSLL) is an exchange-traded fund that is based on the Tesla, Inc index. The fund provides 1.5x leveraged exposure, less fees and expenses, to the daily price movement for shares of Tesla stock. TSLL was launched on Aug 9, 2022 and is managed by Direxion.