Direxion Daily TSLA Bear 1X Shares (NASDAQ:TSLS) Sees Significant Decrease in Short Interest

Key Points

• Short interest plunged 43.3% to 30,843 shares as of April 15 (about 2.4% of shares sold short), leaving a days-to-cover of 0.0 based on average daily volume.
• Several institutions materially increased positions—SBI Securities, PayPay Securities, Private Advisor Group and Ridgecrest Wealth all raised stakes (some by over 100%), while Optiver initiated a new holding.
• TSLS is an exchange-traded fund providing -1x inverse exposure to Tesla (launched Aug 9, 2022) and recently paid a quarterly dividend of $0.338 (annualized $1.35, yield 2.3%).

Direxion Daily TSLA Bear 1X Shares (NASDAQ:TSLS - ) saw a large decrease in short interest in April. As of April 15th, there was short interest totaling 30,843 shares, a decrease of 43.3% from the March 31st total of 54,401 shares. Currently, 2.4% of the company's shares are sold short. Based on an average daily trading volume, of 977,661 shares, the days-to-cover ratio is currently 0.0 days.

Hedge Funds Weigh In On Direxion Daily TSLA Bear 1X Shares

Several large investors have recently modified their holdings of the business. SBI Securities Co. Ltd. lifted its stake in shares of Direxion Daily TSLA Bear 1X Shares by 21.6% in the 3rd 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 during the last quarter. PayPay Securities Corp lifted its stake in shares of Direxion Daily TSLA Bear 1X Shares by 103.6% in the 4th quarter. PayPay Securities Corp now owns 15,254 shares of the company's stock valued at $77,000 after purchasing an additional 7,762 shares during the last quarter. Private Advisor Group LLC lifted its stake in shares of Direxion Daily TSLA Bear 1X Shares by 133.6% in the 3rd quarter. Private Advisor Group LLC now owns 25,000 shares of the company's stock valued at $134,000 after purchasing an additional 14,300 shares during the last quarter. Optiver Holding B.V. acquired a new position in shares of Direxion Daily TSLA Bear 1X Shares in the 3rd quarter valued at $81,000. Finally, Ridgecrest Wealth Partners LLC lifted its stake in shares of Direxion Daily TSLA Bear 1X Shares by 64.6% in the 4th quarter. Ridgecrest Wealth Partners LLC now owns 39,485 shares of the company's stock valued at $200,000 after purchasing an additional 15,500 shares during the last quarter.

Direxion Daily TSLA Bear 1X Shares Stock Performance

Shares of NASDAQ:TSLS opened at $59.03 on Monday. The business has a fifty day moving average of $58.32 and a two-hundred day moving average of $54.68. Direxion Daily TSLA Bear 1X Shares has a 52-week low of $46.20 and a 52-week high of $102.40.

Direxion Daily TSLA Bear 1X Shares Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th were paid a $0.338 dividend. This represents a $1.35 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Tuesday, March 24th.

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.

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