Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) Shares Down 5.4% - Here's Why

Key Points

• TSLL shares fell 5.4% to $9.43 on Tuesday, reaching an intraday low of $9.18. Trading volume was about 24.6 million shares, 69% below the average session volume.
• The leveraged Tesla ETF has a market capitalization of approximately $3.98 billion, a beta of 2.79, and trades below both its 50-day and 200-day moving averages.
• TSLL recently paid a quarterly dividend of $0.1049 per share, equivalent to an annualized $0.42 dividend and a 4.5% yield; several institutional investors also increased their positions.

Shares of Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL - ) fell 5.4% on Tuesday . The stock traded as low as $9.18 and last traded at $9.43. Approximately 24,570,892 shares traded hands during trading, a decline of 69% from the average session volume of 80,386,289 shares. The stock had previously closed at $9.97.

Direxion Daily TSLA Bull 2X Shares Stock Performance

The stock has a market cap of $3.98 billion, a PE ratio of 88.55 and a beta of 2.79. The business's fifty day moving average price is $10.08 and its 200-day moving average price is $12.49.

Direxion Daily TSLA Bull 2X Shares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd were paid a dividend of $0.1049 per share. The ex-dividend date was Tuesday, June 23rd. This represents a $0.42 dividend on an annualized basis and a dividend yield of 4.5%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. UBS Group AG grew its stake in shares of Direxion Daily TSLA Bull 2X Shares by 9.0% in the 3rd quarter. UBS Group AG now owns 7,933,334 shares of the company's stock valued at $167,473,000 after purchasing an additional 654,265 shares during the last quarter. Renaissance Technologies LLC boosted its position in Direxion Daily TSLA Bull 2X Shares by 2,438.5% during the 1st quarter. Renaissance Technologies LLC now owns 2,198,300 shares of the company's stock valued at $26,709,000 after purchasing an additional 2,111,700 shares during the period. Sloy Dahl & Holst LLC lifted its holdings in Direxion Daily TSLA Bull 2X Shares by 19.0% during the fourth quarter. Sloy Dahl & Holst LLC now owns 1,688,402 shares of the company's stock worth $32,265,000 after acquiring an additional 269,324 shares in the last quarter. Bank of Montreal Can increased its holdings in Direxion Daily TSLA Bull 2X Shares by 1,541.0% in the 4th quarter. Bank of Montreal Can now owns 1,476,100 shares of the company's stock valued at $28,208,000 after buying an additional 1,386,150 shares during the period. Finally, Virtu Financial LLC acquired a new position in shares of Direxion Daily TSLA Bull 2X Shares in the fourth quarter valued at approximately $5,913,000.

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.

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