Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) Trading Down 11.3% – Should You Sell?

Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) shares fell 11.3% during trading on Tuesday . The company traded as low as $12.20 and last traded at $12.29. 59,303,057 shares traded hands during mid-day trading, a decline of 27% from the average session volume of 80,972,500 shares. The stock had previously closed at $13.86.

Direxion Daily TSLA Bull 2X Shares Stock Performance

The business’s 50-day moving average price is $13.51 and its 200 day moving average price is $15.84. The company has a market cap of $5.39 billion, a P/E ratio of 88.55 and a beta of 2.67.

Direxion Daily TSLA Bull 2X Shares Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th were given a $0.0994 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Tuesday, March 24th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. UBS Group AG grew its position in shares of Direxion Daily TSLA Bull 2X Shares by 9.0% in the 3rd 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 during the period. Renaissance Technologies LLC grew its position 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 valued at $26,709,000 after acquiring an additional 2,111,700 shares during the period. Sloy Dahl & Holst LLC grew its position in shares of Direxion Daily TSLA Bull 2X Shares by 19.0% in the 4th quarter. Sloy Dahl & Holst LLC now owns 1,688,402 shares of the company’s stock valued at $32,265,000 after acquiring an additional 269,324 shares during the period. Bank of Montreal Can grew its position in shares of Direxion Daily TSLA Bull 2X Shares by 1,541.0% in the 4th quarter. Bank of Montreal Can now owns 1,476,100 shares of the company’s stock valued at $28,208,000 after acquiring an additional 1,386,150 shares during the period. Finally, Flow Traders U.S. LLC bought a new position in shares of Direxion Daily TSLA Bull 2X Shares in the 3rd quarter valued at about $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.