Direxion Daily TSLA Bull 2X ETF (NASDAQ:TSLL) Shares Up 6.1% – Still a Buy?

Direxion Daily TSLA Bull 2X ETF (NASDAQ:TSLL) traded up 6.1% on Monday. The company traded as high as $9.46 and last traded at $9.45. 20,457,624 shares were traded during mid-day trading, a decline of 74% from the average session volume of 78,176,336 shares. The stock had previously closed at $8.91.

Direxion Daily TSLA Bull 2X ETF Stock Performance

The firm has a 50-day moving average of $9.44 and a 200-day moving average of $11.38. The firm has a market capitalization of $3.62 billion, a P/E ratio of 88.55 and a beta of 2.85.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TSLL. Toth Financial Advisory Corp bought a new stake in Direxion Daily TSLA Bull 2X ETF in the 3rd quarter worth about $25,000. Summit Securities Group LLC purchased a new position in Direxion Daily TSLA Bull 2X ETF in the 1st quarter worth about $36,000. Bessemer Group Inc. bought a new position in Direxion Daily TSLA Bull 2X ETF during the 1st quarter valued at about $48,000. SOA Wealth Advisors LLC. lifted its stake in Direxion Daily TSLA Bull 2X ETF by 17.3% during the 1st quarter. SOA Wealth Advisors LLC. now owns 6,783 shares of the company’s stock valued at $82,000 after acquiring an additional 1,000 shares during the period. Finally, Parallel Advisors LLC lifted its stake in Direxion Daily TSLA Bull 2X ETF by 19.4% during the 1st quarter. Parallel Advisors LLC now owns 7,892 shares of the company’s stock valued at $96,000 after acquiring an additional 1,281 shares during the period.

Direxion Daily TSLA Bull 2X ETF 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.