Short Interest in Direxion Daily TSLA Bear 1X Shares (NASDAQ:TSLS) Declines By 30.5%

Key Points

• Short interest for Direxion Daily TSLA Bear 1X Shares (TSLS) decreased by 30.5% in August, dropping to 736,800 shares.
• Several institutional investors, including Tower Research Capital LLC and StoneX Group Inc., significantly increased their holdings in TSLS during the 2nd quarter of the year.
• The stock has a current price of $5.90, with a 52-week range between $5.65 and $17.58.

Direxion Daily TSLA Bear 1X Shares (NASDAQ:TSLS - Get Free Report) was the target of a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 736,800 shares, a drop of 30.5% from the August 15th total of 1,060,000 shares. Based on an average daily trading volume, of 27,017,000 shares, the short-interest ratio is presently 0.0 days. Currently, 8.3% of the company's shares are sold short. Currently, 8.3% of the company's shares are sold short. Based on an average daily trading volume, of 27,017,000 shares, the short-interest ratio is presently 0.0 days.

Institutional Trading of Direxion Daily TSLA Bear 1X Shares

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rossby Financial LCC purchased a new stake in Direxion Daily TSLA Bear 1X Shares in the first quarter worth $28,000. Simplex Trading LLC purchased a new stake in Direxion Daily TSLA Bear 1X Shares in the second quarter worth $47,000. PayPay Securities Corp lifted its stake in Direxion Daily TSLA Bear 1X Shares by 87.2% in the second quarter. PayPay Securities Corp now owns 9,004 shares of the company's stock worth $71,000 after acquiring an additional 4,193 shares during the period. SBI Securities Co. Ltd. lifted its stake in Direxion Daily TSLA Bear 1X Shares by 1,020.7% in the second quarter. SBI Securities Co. Ltd. now owns 12,541 shares of the company's stock worth $98,000 after acquiring an additional 11,422 shares during the period. Finally, Ridgecrest Wealth Partners LLC purchased a new stake in Direxion Daily TSLA Bear 1X Shares in the second quarter worth $123,000.

Direxion Daily TSLA Bear 1X Shares Stock Down 1.9%

Shares of TSLS stock traded down $0.11 during trading on Friday, hitting $5.68. The company had a trading volume of 31,569,770 shares, compared to its average volume of 18,938,445. The stock's 50-day moving average is $7.23 and its two-hundred day moving average is $8.69. Direxion Daily TSLA Bear 1X Shares has a 52 week low of $5.59 and a 52 week high of $17.58.

Direxion Daily TSLA Bear 1X Shares Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 24th were paid a dividend of $0.0529 per share. This represents a $0.21 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Tuesday, June 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.