Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) Trading Down 5.8% - Should You Sell?

Key Points

• Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) saw a significant decline of 5.8% in trading, closing at $19.80 after reaching a low of $19.20.
• The firm recently announced a quarterly dividend of $0.0893 per share, which will be paid to stockholders on September 30th, resulting in an annualized yield of 1.8%.
• Institutional investments in TSLL have increased, with Sloy Dahl & Holst LLC boosting their stake by over 1,301% in the first quarter.

Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL - ) were down 5.8% during trading on Thursday . The stock traded as low as $19.20 and last traded at $19.80. Approximately 56,063,391 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 161,719,688 shares. The stock had previously closed at $21.03.

Direxion Daily TSLA Bull 2X Shares Trading Down 6.1%

The company has a 50 day moving average price of $13.53 and a 200 day moving average price of $11.90. The company has a market capitalization of $10.61 billion, a price-to-earnings ratio of 88.55 and a beta of -5.14.

Direxion Daily TSLA Bull 2X Shares Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 23rd will be given a dividend of $0.0893 per share. The ex-dividend date is Tuesday, September 23rd. This represents a $0.36 annualized dividend and a dividend yield of 1.8%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TSLL. Sloy Dahl & Holst LLC grew its stake in Direxion Daily TSLA Bull 2X Shares by 1,301.8% in the first quarter. Sloy Dahl & Holst LLC now owns 1,197,704 shares of the company's stock valued at $11,402,000 after acquiring an additional 1,112,265 shares during the period. Simplex Trading LLC boosted its holdings in shares of Direxion Daily TSLA Bull 2X Shares by 199.8% in the second quarter. Simplex Trading LLC now owns 816,632 shares of the company's stock valued at $9,644,000 after buying an additional 544,253 shares during the period. Virtu Financial LLC acquired a new position in shares of Direxion Daily TSLA Bull 2X Shares in the first quarter valued at approximately $4,375,000. Flow Traders U.S. LLC acquired a new position in shares of Direxion Daily TSLA Bull 2X Shares in the first quarter valued at approximately $3,067,000. Finally, Scientech Research LLC acquired a new position in shares of Direxion Daily TSLA Bull 2X Shares in the first quarter valued at approximately $2,211,000.

About Direxion Daily TSLA Bull 2X Shares

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