Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) Shares Gap Down - Here's Why

Key Points

• Direxion Daily TSLA Bull 2X Shares experienced a significant drop in share price, opening at $19.68 compared to the previous close of $20.31, indicating market volatility.
• The company has announced a quarterly dividend of $0.0893 per share, translating to an annualized dividend of $0.36 and a yield of 1.8%, reflecting a recent cut in dividends.
• Several institutional investors have increased their holdings in TSLL, with Sloy Dahl & Holst LLC reporting a 1,301.8% growth in its position during the first quarter.

Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL - )'s share price gapped down before the market opened on Thursday . The stock had previously closed at $20.31, but opened at $19.68. Direxion Daily TSLA Bull 2X Shares shares last traded at $19.67, with a volume of 30,980,871 shares.

Direxion Daily TSLA Bull 2X Shares Trading Down 1.5%

The company has a market capitalization of $7.55 billion, a price-to-earnings ratio of 88.55 and a beta of -5.14. The stock's fifty day simple moving average is $15.28 and its 200-day simple moving average is $12.75.

Direxion Daily TSLA Bull 2X Shares Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 23rd were given a $0.0893 dividend. The ex-dividend date of this dividend was Tuesday, September 23rd. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.8%.

Institutional Investors Weigh In On Direxion Daily TSLA Bull 2X Shares

A number of large investors have recently modified their holdings of TSLL. Sloy Dahl & Holst LLC grew its position in shares of Direxion Daily TSLA Bull 2X Shares by 1,301.8% in the 1st quarter. Sloy Dahl & Holst LLC now owns 1,197,704 shares of the company's stock valued at $11,402,000 after buying an additional 1,112,265 shares during the last quarter. Simplex Trading LLC grew its position in shares of Direxion Daily TSLA Bull 2X Shares by 199.8% in the 2nd quarter. Simplex Trading LLC now owns 816,632 shares of the company's stock valued at $9,644,000 after buying an additional 544,253 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Direxion Daily TSLA Bull 2X Shares in the 1st quarter valued at $4,375,000. Flow Traders U.S. LLC purchased a new position in shares of Direxion Daily TSLA Bull 2X Shares in the 1st quarter valued at $3,067,000. Finally, Scientech Research LLC acquired a new stake in Direxion Daily TSLA Bull 2X Shares during the 1st quarter worth $2,211,000.

About Direxion Daily TSLA Bull 2X Shares

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.