Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) Trading Down 5.3% - Should You Sell?

Key Points

• TSLL fell 5.3% to $7.87 in Wednesday trading, with volume of 31.8 million shares—59% below its average session volume.
• The leveraged Tesla ETF is trading well below its moving averages, with a 50-day average of $11.32 and a 200-day average of $13.25; it has a market capitalization of $3.42 billion and a beta of 2.79.
• TSLL recently paid a quarterly dividend of $0.1049, equivalent to approximately $0.42 annually and a 5.2% yield. Institutional ownership also increased, including significant additions by Renaissance Technologies and Royal Bank of Canada.

Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL - ) dropped 5.3% during trading on Wednesday . The company traded as low as $7.86 and last traded at $7.87. 31,796,282 shares changed hands during mid-day trading, a decline of 59% from the average session volume of 77,827,250 shares. The stock had previously closed at $8.31.

Direxion Daily TSLA Bull 2X Shares Price Performance

The stock has a market capitalization of $3.42 billion, a PE ratio of 88.55 and a beta of 2.79. The company's 50 day moving average price is $11.32 and its two-hundred day moving average price is $13.25.

Direxion Daily TSLA Bull 2X Shares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd were paid a $0.1049 dividend. This represents a $0.42 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend was Tuesday, June 23rd.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tactive Advisors LLC grew its position in shares of Direxion Daily TSLA Bull 2X Shares by 31.7% in the second quarter. Tactive Advisors LLC now owns 16,600 shares of the company's stock valued at $235,000 after purchasing an additional 4,000 shares in the last quarter. Dakota Community Bank & Trust NA acquired a new position in Direxion Daily TSLA Bull 2X Shares during the first quarter worth $283,000. SOA Wealth Advisors LLC. boosted its stake in Direxion Daily TSLA Bull 2X Shares by 17.3% during the first quarter. SOA Wealth Advisors LLC. now owns 6,783 shares of the company's stock worth $82,000 after buying an additional 1,000 shares during the last quarter. Royal Bank of Canada grew its holdings in Direxion Daily TSLA Bull 2X Shares by 36,531.8% in the 1st quarter. Royal Bank of Canada now owns 102,569 shares of the company's stock valued at $1,246,000 after buying an additional 102,289 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Direxion Daily TSLA Bull 2X Shares by 2,438.5% in the 1st quarter. Renaissance Technologies LLC now owns 2,198,300 shares of the company's stock valued at $26,709,000 after buying an additional 2,111,700 shares in the last quarter.

Direxion Daily TSLA Bull 2X Shares Company Profile

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source