Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) Sets New 52-Week Low - Here's Why

Key Points

• TSLL hit a new 52-week low, falling to $6.85 during Wednesday’s trading before recovering slightly to $7.15. The leveraged Tesla ETF was down 1.2% from its prior close, with trading volume exceeding 84.6 million shares.
• The fund’s price remains well below its moving averages, with a 50-day average of $12.84 and a 200-day average of $13.97. TSLL has a $2.35 billion market capitalization, a beta of 2.70 and a stated 5.9% dividend yield.
• Several institutional investors increased their positions, including Renaissance Technologies, Bank of Montreal and UBS. TSLL is designed to provide leveraged daily exposure to Tesla’s stock, amplifying both gains and losses.

Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL - )'s stock price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $6.85 and last traded at $7.15, with a volume of 84659163 shares trading hands. The stock had previously closed at $7.24.

Direxion Daily TSLA Bull 2X Shares Trading Down 1.2%

The company has a fifty day simple moving average of $12.84 and a two-hundred day simple moving average of $13.97. The company has a market cap of $2.35 billion, a PE ratio of 88.55 and a beta of 2.70.

Direxion Daily TSLA Bull 2X Shares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd were paid a $0.1049 dividend. This represents a $0.42 annualized dividend and a dividend yield of 5.9%. The ex-dividend date was Tuesday, June 23rd.

Institutional Trading of Direxion Daily TSLA Bull 2X Shares

Large investors have recently made changes to their positions in the company. Renaissance Technologies LLC grew its stake in shares of Direxion Daily TSLA Bull 2X Shares by 2,438.5% during the first quarter. Renaissance Technologies LLC now owns 2,198,300 shares of the company's stock worth $26,709,000 after purchasing an additional 2,111,700 shares in the last quarter. Bank of Montreal Can raised its stake in Direxion Daily TSLA Bull 2X Shares by 1,541.0% in the fourth quarter. Bank of Montreal Can now owns 1,476,100 shares of the company's stock valued at $28,208,000 after buying an additional 1,386,150 shares in the last quarter. UBS Group AG lifted its holdings in Direxion Daily TSLA Bull 2X Shares by 9.0% during the 3rd quarter. UBS Group AG now owns 7,933,334 shares of the company's stock worth $167,473,000 after buying an additional 654,265 shares during the last quarter. Virtu Financial LLC purchased a new stake in Direxion Daily TSLA Bull 2X Shares during the 4th quarter worth about $5,913,000. Finally, Sloy Dahl & Holst LLC boosted its position in shares of Direxion Daily TSLA Bull 2X Shares by 19.0% during the 4th quarter. Sloy Dahl & Holst LLC now owns 1,688,402 shares of the company's stock worth $32,265,000 after acquiring an additional 269,324 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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