Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) Shares Down 2.8% - Should You Sell?

Key Points

• Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) saw a decline of 2.8%, closing at $18.70 after trading as low as $18.18 with significantly lower trading volume compared to average sessions.
• The firm increased its quarterly dividend to $0.0896 per share, up from $0.08, which translates to an annualized yield of 1.9% for shareholders.
• Several hedge funds have recently increased their stakes in Direxion Daily TSLA Bull 2X Shares, indicating continued interest from institutional investors.

Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL - Get Free Report)'s share price were down 2.8% on Wednesday . The company traded as low as $18.18 and last traded at $18.70. Approximately 41,613,197 shares traded hands during trading, a decline of 74% from the average daily volume of 162,122,125 shares. The stock had previously closed at $19.25.

Direxion Daily TSLA Bull 2X Shares Price Performance

The stock has a market cap of $10.55 billion, a PE ratio of 88.55 and a beta of -5.14. The stock has a 50-day moving average price of $13.00 and a two-hundred day moving average price of $11.71.

Direxion Daily TSLA Bull 2X Shares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Tuesday, June 24th were given a $0.0896 dividend. This is an increase from Direxion Daily TSLA Bull 2X Shares's previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 1.8%. The ex-dividend date was Tuesday, June 24th.

Institutional Trading of Direxion Daily TSLA Bull 2X Shares

Institutional investors have recently added to or reduced their stakes in the company. GEM Asset Management LLC bought a new stake in Direxion Daily TSLA Bull 2X Shares in the first quarter worth about $306,000. Clarity Capital Partners LLC lifted its stake in Direxion Daily TSLA Bull 2X Shares by 21.7% in the first quarter. Clarity Capital Partners LLC now owns 144,955 shares of the company's stock worth $1,380,000 after purchasing an additional 25,867 shares during the last quarter. Cerity Partners LLC bought a new stake in shares of Direxion Daily TSLA Bull 2X Shares during the first quarter valued at approximately $267,000. TB Alternative Assets Ltd. bought a new stake in shares of Direxion Daily TSLA Bull 2X Shares during the first quarter valued at approximately $2,197,000. Finally, SBI Securities Co. Ltd. raised its stake in shares of Direxion Daily TSLA Bull 2X Shares by 19.5% during the first quarter. SBI Securities Co. Ltd. now owns 249,701 shares of the company's stock valued at $2,377,000 after acquiring an additional 40,773 shares in the last quarter.

Direxion Daily TSLA Bull 2X Shares Company Profile