Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) Stock Price Up 8% - Should You Buy?

Key Points

• The shares of Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) experienced an 8% increase during mid-day trading, reaching a price of $13.10.
• The company announced an increase in its quarterly dividend to $0.0896 per share, up from the previous $0.08, resulting in a 2.8% yield.
• Significant institutional investment was noted, with Sloy Dahl & Holst LLC increasing its stake by 1,301.8% in the first quarter of the year.

Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL - Get Free Report)'s stock price were up 8% on Monday . The stock traded as high as $13.15 and last traded at $13.10. Approximately 54,679,724 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 166,274,875 shares. The stock had previously closed at $12.13.

Direxion Daily TSLA Bull 2X Shares Price Performance

The stock has a market cap of $6.55 billion, a price-to-earnings ratio of 88.55 and a beta of -5.14. The firm's fifty day moving average price is $11.85 and its two-hundred day moving average price is $12.59.

Direxion Daily TSLA Bull 2X Shares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Tuesday, June 24th were issued a $0.0896 dividend. The ex-dividend date was Tuesday, June 24th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.9%. This is a boost from Direxion Daily TSLA Bull 2X Shares's previous quarterly dividend of $0.08.

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

A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of Montreal Can purchased a new position in shares of Direxion Daily TSLA Bull 2X Shares during the fourth quarter valued at approximately $92,000. Barclays PLC purchased a new position in Direxion Daily TSLA Bull 2X Shares during the 4th quarter worth $7,433,000. Tower Research Capital LLC TRC grew its stake in shares of Direxion Daily TSLA Bull 2X Shares by 13.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 26,926 shares of the company's stock worth $741,000 after acquiring an additional 3,294 shares in the last quarter. Optiver Holding B.V. purchased a new stake in shares of Direxion Daily TSLA Bull 2X Shares in the fourth quarter valued at about $240,000. Finally, Bison Wealth LLC purchased a new stake in shares of Direxion Daily TSLA Bull 2X Shares in the fourth quarter valued at about $1,514,000.

About Direxion Daily TSLA Bull 2X Shares