Short Interest in Direxion Daily TSLA Bear 1X Shares (NASDAQ:TSLS) Decreases By 33.5%

Key Points

• Short interest in Direxion Daily TSLA Bear 1X Shares (NASDAQ:TSLS) decreased by 33.5% in September, falling to 1,250,000 shares from 1,880,000 shares.
• The company recently announced a quarterly dividend of $0.04, equating to an annualized rate of $0.16 and a dividend yield of 3.0%.
• Several hedge funds increased their stakes significantly in TSLS, with some reporting increases between 53.4% to 711.2% in their holdings during the third quarter.

Direxion Daily TSLA Bear 1X Shares (NASDAQ:TSLS - ) saw a large drop in short interest in September. As of September 30th, there was short interest totaling 1,250,000 shares, a drop of 33.5% from the September 15th total of 1,880,000 shares. Based on an average trading volume of 29,562,700 shares, the days-to-cover ratio is currently 0.0 days. Based on an average trading volume of 29,562,700 shares, the days-to-cover ratio is currently 0.0 days.

Direxion Daily TSLA Bear 1X Shares Stock Up 0.9%

Shares of TSLS opened at $5.34 on Wednesday. Direxion Daily TSLA Bear 1X Shares has a twelve month low of $5.08 and a twelve month high of $17.58. The company has a 50 day moving average of $6.26 and a 200-day moving average of $7.72.

Direxion Daily TSLA Bear 1X Shares Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 23rd were paid a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, September 23rd. This represents a $0.16 annualized dividend and a dividend yield of 3.0%.

Hedge Funds Weigh In On Direxion Daily TSLA Bear 1X Shares

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Ridgecrest Wealth Partners LLC grew its stake in shares of Direxion Daily TSLA Bear 1X Shares by 53.4% in the third quarter. Ridgecrest Wealth Partners LLC now owns 23,985 shares of the company's stock valued at $129,000 after buying an additional 8,350 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of Direxion Daily TSLA Bear 1X Shares in the second quarter valued at $1,360,000. Tower Research Capital LLC TRC grew its stake in shares of Direxion Daily TSLA Bear 1X Shares by 207.1% in the second quarter. Tower Research Capital LLC TRC now owns 138,578 shares of the company's stock valued at $1,086,000 after buying an additional 93,459 shares in the last quarter. Group One Trading LLC grew its stake in shares of Direxion Daily TSLA Bear 1X Shares by 711.2% in the second quarter. Group One Trading LLC now owns 39,628 shares of the company's stock valued at $311,000 after buying an additional 34,743 shares in the last quarter. Finally, StoneX Group Inc. grew its stake in shares of Direxion Daily TSLA Bear 1X Shares by 265.9% in the second quarter. StoneX Group Inc. now owns 61,950 shares of the company's stock valued at $486,000 after buying an additional 45,021 shares in the last quarter.

About Direxion Daily TSLA Bear 1X Shares

The Direxion Daily TSLA Bear 1X Shares (TSLS) is an exchange-traded fund that is based on the Tesla, Inc index. The fund provides inverse (-1x) exposure, less fees and expenses, to the daily price movement for shares of Tesla stock. TSLS was launched on Aug 9, 2022 and is managed by Direxion.

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