Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) Stock Price Down 5.7% - What's Next?

Key Points

• TSLL fell 5.7% to $11.48 during mid-day trading with about 22.15 million shares changing hands, roughly a 72% decline from its average daily volume of 79.82 million shares.
• TSLL trades below its 50‑ and 200‑day moving averages ($13.30 and $16.95), has a high beta (2.92), and is a Direxion ETF that provides 1.5x leveraged exposure to Tesla, indicating elevated volatility.
• The fund paid a quarterly dividend of $0.0994 (annualized $0.40, yield 3.2%), and several institutional investors recently initiated or increased positions, including NewEdge Advisors, Captrust, and Snowden Capital.

Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL - ) shares dropped 5.7% during mid-day trading on Monday . The stock traded as low as $11.47 and last traded at $11.48. Approximately 22,152,625 shares changed hands during trading, a decline of 72% from the average daily volume of 79,822,500 shares. The stock had previously closed at $12.17.

Direxion Daily TSLA Bull 2X Shares Stock Up 1.8%

The company's 50-day moving average price is $13.30 and its 200-day moving average price is $16.95. The firm has a market cap of $4.68 billion, a price-to-earnings ratio of 88.55 and a beta of 2.92.

Direxion Daily TSLA Bull 2X Shares Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th were given a $0.0994 dividend. The ex-dividend date of this dividend was Tuesday, March 24th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.2%.

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

A number of large investors have recently modified their holdings of TSLL. Bison Wealth LLC purchased a new stake in shares of Direxion Daily TSLA Bull 2X Shares in the 4th quarter valued at approximately $1,514,000. NewEdge Advisors LLC increased its position in shares of Direxion Daily TSLA Bull 2X Shares by 255.7% in the 1st quarter. NewEdge Advisors LLC now owns 38,240 shares of the company's stock valued at $364,000 after purchasing an additional 27,490 shares during the last quarter. Jump Financial LLC purchased a new stake in shares of Direxion Daily TSLA Bull 2X Shares in the 2nd quarter valued at approximately $126,000. Snowden Capital Advisors LLC purchased a new stake in shares of Direxion Daily TSLA Bull 2X Shares in the 2nd quarter valued at approximately $2,136,000. Finally, Captrust Financial Advisors increased its position in shares of Direxion Daily TSLA Bull 2X Shares by 27.7% in the 2nd quarter. Captrust Financial Advisors now owns 78,116 shares of the company's stock valued at $923,000 after purchasing an additional 16,938 shares during 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.