Direxion Daily TSLA Bear 1X Shares (NASDAQ:TSLS) Short Interest Down 30.3% in March

Key Points

• Short interest fell 30.3% in March to 54,401 shares (about 4.5% sold short) with a days-to-cover ratio of 0.1 days.
• The fund paid a quarterly dividend of $0.338 per share on March 31 (annualized $1.35, yield 2.1%).
• TSLS is an inverse (-1x) ETF that provides daily -1x exposure to Tesla and was launched on August 9, 2022.

Direxion Daily TSLA Bear 1X Shares (NASDAQ:TSLS - ) was the recipient of a large drop in short interest in the month of March. As of March 31st, there was short interest totaling 54,401 shares, a drop of 30.3% from the March 15th total of 78,106 shares. Based on an average trading volume of 530,331 shares, the days-to-cover ratio is presently 0.1 days. Currently, 4.5% of the company's stock are sold short.

Direxion Daily TSLA Bear 1X Shares Stock Performance

Shares of NASDAQ TSLS opened at $63.48 on Tuesday. Direxion Daily TSLA Bear 1X Shares has a one year low of $46.20 and a one year high of $119.70. The business has a 50-day moving average price of $57.72 and a two-hundred day moving average price of $54.48.

Direxion Daily TSLA Bear 1X Shares Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th were paid a dividend of $0.338 per share. The ex-dividend date of this dividend was Tuesday, March 24th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 2.1%.

Institutional Investors Weigh In On Direxion Daily TSLA Bear 1X Shares

A number of hedge funds and other institutional investors have recently made changes to their positions in TSLS. Group One Trading LLC raised its stake in shares of Direxion Daily TSLA Bear 1X Shares by 711.2% during the 2nd quarter. Group One Trading LLC now owns 39,628 shares of the company's stock worth $311,000 after purchasing an additional 34,743 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Direxion Daily TSLA Bear 1X Shares by 207.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 138,578 shares of the company's stock worth $1,086,000 after purchasing an additional 93,459 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of Direxion Daily TSLA Bear 1X Shares during the 2nd quarter worth about $1,360,000. Ridgecrest Wealth Partners LLC raised its stake in shares of Direxion Daily TSLA Bear 1X Shares by 53.4% during the 3rd quarter. Ridgecrest Wealth Partners LLC now owns 23,985 shares of the company's stock worth $129,000 after purchasing an additional 8,350 shares in the last quarter. Finally, IMC Chicago LLC raised its stake in shares of Direxion Daily TSLA Bear 1X Shares by 33.2% during the 3rd quarter. IMC Chicago LLC now owns 618,911 shares of the company's stock worth $3,330,000 after purchasing an additional 154,092 shares in the last quarter.

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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