Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) Stock Price Down 3.2% - Here's Why

Key Points

• The Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) experienced a 3.2% decrease in stock price, closing at $20.34 after a significant drop from the previous close of $21.01.
• An annualized dividend of $0.36 was recently declared, representing a yield of 1.8% for shareholders.
• Several hedge funds have recently acquired or increased their positions in TSLL, indicating growing interest in the fund among institutional investors.

Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL - ) traded down 3.2% during mid-day trading on Friday . The stock traded as low as $20.23 and last traded at $20.34. 34,997,088 shares changed hands during trading, a decline of 78% from the average session volume of 159,008,375 shares. The stock had previously closed at $21.01.

Direxion Daily TSLA Bull 2X Shares Stock Down 6.6%

The firm has a 50 day moving average of $17.08 and a two-hundred day moving average of $13.49. The firm has a market capitalization of $7.70 billion, a price-to-earnings ratio of 88.55 and a beta of -5.14.

Direxion Daily TSLA Bull 2X Shares Cuts Dividend

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

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

Hedge funds have recently made changes to their positions in the stock. Beaird Harris Wealth Management LLC acquired a new stake in shares of Direxion Daily TSLA Bull 2X Shares in the 1st quarter valued at approximately $25,000. Spire Wealth Management bought a new position in Direxion Daily TSLA Bull 2X Shares in the 3rd quarter valued at approximately $30,000. Strategic Investment Solutions Inc. IL bought a new position in Direxion Daily TSLA Bull 2X Shares in the 1st quarter valued at approximately $33,000. Toth Financial Advisory Corp raised its holdings in Direxion Daily TSLA Bull 2X Shares by 99.2% in the 3rd quarter. Toth Financial Advisory Corp now owns 1,657 shares of the company's stock valued at $35,000 after buying an additional 825 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in Direxion Daily TSLA Bull 2X Shares in the 1st quarter valued at approximately $52,000.

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.