Direxion Daily TSLA Bear 1X Shares (NASDAQ:TSLS) Sees Large Increase in Short Interest

Key Points

• Short interest in Direxion Daily TSLA Bear 1X Shares (NASDAQ:TSLS) surged by 66.0% in August, reaching a total of 1,060,000 shares.
• Institutional investors have shown increased activity, with some acquiring new stakes, including PayPay Securities increasing holdings by 87.2% and SBI Securities increasing by 1,020.7%.
• The share price of Direxion Daily TSLA Bear 1X Shares recently fell by 3.5%, trading at $6.95 compared to a 52-week high of $18.20.

Direxion Daily TSLA Bear 1X Shares (NASDAQ:TSLS - Get Free Report) was the recipient of a significant growth in short interest during the month of August. As of August 15th, there was short interest totaling 1,060,000 shares, a growth of 66.0% from the July 31st total of 638,700 shares. Based on an average trading volume of 26,961,200 shares, the short-interest ratio is currently 0.0 days. Based on an average trading volume of 26,961,200 shares, the short-interest ratio is currently 0.0 days.

Institutional Investors Weigh In On Direxion Daily TSLA Bear 1X Shares

Several large investors have recently made changes to their positions in TSLS. Advisory Services Network LLC bought a new stake in shares of Direxion Daily TSLA Bear 1X Shares during the second quarter valued at approximately $1,360,000. Tower Research Capital LLC TRC raised its stake in Direxion Daily TSLA Bear 1X Shares by 207.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 138,578 shares of the company's stock valued at $1,086,000 after acquiring an additional 93,459 shares in the last quarter. Group One Trading LLC boosted its position in Direxion Daily TSLA Bear 1X Shares by 711.2% during the 2nd quarter. Group One Trading LLC now owns 39,628 shares of the company's stock worth $311,000 after acquiring an additional 34,743 shares during the period. 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 worth $486,000 after purchasing an additional 45,021 shares in the last quarter. Finally, SBI Securities Co. Ltd. grew its stake in shares of Direxion Daily TSLA Bear 1X Shares by 1,020.7% in the second quarter. SBI Securities Co. Ltd. now owns 12,541 shares of the company's stock worth $98,000 after purchasing an additional 11,422 shares in the last quarter.

Direxion Daily TSLA Bear 1X Shares Stock Performance

TSLS stock traded down $0.42 during mid-day trading on Thursday, reaching $6.60. The company had a trading volume of 31,205,070 shares, compared to its average volume of 18,381,789. Direxion Daily TSLA Bear 1X Shares has a one year low of $6.59 and a one year high of $17.58. The stock's 50-day simple moving average is $7.53 and its two-hundred day simple moving average is $8.92.

Direxion Daily TSLA Bear 1X Shares Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 24th were given a $0.0529 dividend. The ex-dividend date was Tuesday, June 24th. This represents a $0.21 annualized dividend and a yield of 3.2%.

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.