Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) Sees Large Growth in Short Interest

Key Points

• Short interest jumped 22.4% in March to 55,845,526 shares, equal to about 15.4% of shares short and a days-to-cover ratio of 0.8 days.
• TSLL traded down about 1.3%, opening at $13.13; the fund has a market cap of $4.97 billion, a P/E of 88.55 and a one-year range of $6.49–$23.74.
• The ETF provides leveraged exposure to Tesla (article reports it offers 1.5x daily exposure) and recently paid a quarterly dividend of $0.0994 (annualized $0.40, ~3.0% yield, ex-dividend March 24).

Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL - ) saw a large growth in short interest in the month of March. As of March 31st, there was short interest totaling 55,845,526 shares, a growth of 22.4% from the March 15th total of 45,629,030 shares. Approximately 15.4% of the company's shares are short sold. Based on an average daily trading volume, of 70,517,140 shares, the days-to-cover ratio is presently 0.8 days.

Direxion Daily TSLA Bull 2X Shares Trading Down 1.3%

Direxion Daily TSLA Bull 2X Shares stock opened at $13.13 on Thursday. The firm has a market capitalization of $4.97 billion, a P/E ratio of 88.55 and a beta of 2.92. Direxion Daily TSLA Bull 2X Shares has a 1 year low of $6.49 and a 1 year high of $23.74. The business has a 50-day moving average of $13.72 and a 200-day moving average of $17.36.

Direxion Daily TSLA Bull 2X Shares Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th were issued a dividend of $0.0994 per share. This represents a $0.40 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Tuesday, March 24th.

Hedge Funds Weigh In On Direxion Daily TSLA Bull 2X Shares

Institutional investors have recently modified their holdings of the business. Spire Wealth Management bought a new position in shares of Direxion Daily TSLA Bull 2X Shares during the 3rd quarter valued at about $30,000. Toth Financial Advisory Corp lifted its holdings in shares of Direxion Daily TSLA Bull 2X Shares by 99.2% during the 3rd quarter. Toth Financial Advisory Corp now owns 1,657 shares of the company's stock valued at $35,000 after purchasing an additional 825 shares in the last quarter. Anfield Capital Management LLC lifted its holdings in shares of Direxion Daily TSLA Bull 2X Shares by 100.0% during the 4th quarter. Anfield Capital Management LLC now owns 2,000 shares of the company's stock valued at $38,000 after purchasing an additional 1,000 shares in the last quarter. BOKF NA bought a new position in shares of Direxion Daily TSLA Bull 2X Shares during the 3rd quarter valued at about $46,000. Finally, PayPay Securities Corp lifted its holdings in shares of Direxion Daily TSLA Bull 2X Shares by 143.1% during the 4th quarter. PayPay Securities Corp now owns 2,339 shares of the company's stock valued at $45,000 after purchasing an additional 1,377 shares in the last quarter.

About Direxion Daily TSLA Bull 2X Shares

The Direxion Daily TSLA Bull 1.5X Shares ETF (TSLL) is an exchange-traded fund that is based on the Tesla, Inc index. The fund provides 1.5x leveraged exposure, less fees and expenses, to the daily price movement for shares of Tesla stock. TSLL was launched on Aug 9, 2022 and is managed by Direxion.

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