Short Interest in Direxion Daily TSLA Bear 1X Shares (NASDAQ:TSLS) Declines By 65.9%

Direxion Daily TSLA Bear 1X Shares (NASDAQ:TSLS - Get Free Report) saw a large decrease in short interest in the month of May. As of May 31st, there was short interest totalling 341,300 shares, a decrease of 65.9% from the May 15th total of 1,000,000 shares. Currently, 4.0% of the company's shares are short sold. Based on an average trading volume of 14,944,500 shares, the days-to-cover ratio is presently 0.0 days.

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

Hedge funds and other institutional investors have recently modified their holdings of the company. Rossby Financial LCC bought a new position in shares of Direxion Daily TSLA Bear 1X Shares during the first quarter valued at about $28,000. Optiver Holding B.V. raised its stake in shares of Direxion Daily TSLA Bear 1X Shares by 1,399.2% during the fourth quarter. Optiver Holding B.V. now owns 7,496 shares of the company's stock valued at $60,000 after acquiring an additional 6,996 shares during the last quarter. PayPay Securities Corp bought a new position in shares of Direxion Daily TSLA Bear 1X Shares during the fourth quarter valued at about $66,000. Sequoia Financial Advisors LLC bought a new position in shares of Direxion Daily TSLA Bear 1X Shares during the fourth quarter valued at about $80,000. Finally, XTX Topco Ltd bought a new position in shares of Direxion Daily TSLA Bear 1X Shares during the first quarter valued at about $202,000.

Direxion Daily TSLA Bear 1X Shares Trading Down 1.9%

TSLS stock traded down $0.15 during trading on Friday, hitting $7.76. 33,068,687 shares of the company traded hands, compared to its average volume of 8,686,072. Direxion Daily TSLA Bear 1X Shares has a 1 year low of $6.82 and a 1 year high of $23.78. The company has a 50-day moving average of $9.06 and a 200-day moving average of $9.24.

Direxion Daily TSLA Bear 1X Shares Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th were paid a dividend of $0.0756 per share. This represents a $0.30 annualized dividend and a dividend yield of 3.89%. The ex-dividend date of this dividend was Tuesday, March 25th.

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.