Direxion Daily TSLA Bear 1X Shares (NASDAQ:TSLS) Shares Down 1.4% - What's Next?

Key Points

• Direxion Daily TSLA Bear 1X Shares (NASDAQ:TSLS) experienced a 1.4% decline in trading, dropping to $7.20 with increased trading volume of over 21 million shares.
• The company recently declared a quarterly dividend of **$0.0529**, providing an annualized yield of **2.9%**, with the ex-dividend date occurring on June 24th.
• Several hedge funds significantly increased their positions in TSLS, with Jane Street Group boosting its stake by 1,421.6% in the fourth quarter.

Direxion Daily TSLA Bear 1X Shares (NASDAQ:TSLS - Get Free Report) traded down 1.4% on Thursday . The company traded as low as $7.20 and last traded at $7.20. 21,815,464 shares traded hands during mid-day trading, an increase of 20% from the average session volume of 18,181,221 shares. The stock had previously closed at $7.30.

Direxion Daily TSLA Bear 1X Shares Price Performance

The business has a 50 day moving average price of $7.59 and a two-hundred day moving average price of $8.96.

Direxion Daily TSLA Bear 1X Shares Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Tuesday, June 24th were given a $0.0529 dividend. This represents a $0.21 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Tuesday, June 24th.

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

Hedge funds have recently made changes to their positions in the company. GTS Securities LLC purchased a new stake in shares of Direxion Daily TSLA Bear 1X Shares in the fourth quarter worth about $468,000. XTX Topco Ltd purchased a new stake in shares of Direxion Daily TSLA Bear 1X Shares in the first quarter worth about $202,000. Rossby Financial LCC purchased a new stake in shares of Direxion Daily TSLA Bear 1X Shares in the first quarter worth about $28,000. Jane Street Group LLC lifted its position in shares of Direxion Daily TSLA Bear 1X Shares by 1,421.6% in the fourth quarter. Jane Street Group LLC now owns 303,976 shares of the company's stock worth $2,447,000 after buying an additional 326,976 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new stake in Direxion Daily TSLA Bear 1X Shares during the second quarter valued at approximately $1,360,000.

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.