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 target of a large increase in short interest in August. As of August 15th, there was short interest totaling 1,060,000 shares, an increase of 66.0% from the July 31st total of 638,700 shares. Based on an average daily volume of 26,961,200 shares, the short-interest ratio is presently 0.0 days. Based on an average daily volume of 26,961,200 shares, the short-interest ratio is presently 0.0 days.

Direxion Daily TSLA Bear 1X Shares Stock Down 0.4%

Shares of Direxion Daily TSLA Bear 1X Shares stock traded down $0.03 on Tuesday, reaching $7.02. The company's stock had a trading volume of 15,609,551 shares, compared to its average volume of 18,261,268. The firm's fifty day simple moving average is $7.55 and its two-hundred day simple moving average is $8.93. Direxion Daily TSLA Bear 1X Shares has a 52 week low of $6.80 and a 52 week high of $17.60.

Direxion Daily TSLA Bear 1X Shares Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 24th were issued a $0.0529 dividend. The ex-dividend date of this dividend was Tuesday, June 24th. This represents a $0.21 dividend on an annualized basis and a dividend yield of 3.0%.

Institutional Trading of Direxion Daily TSLA Bear 1X Shares

A number of institutional investors and hedge funds have recently modified their holdings of the business. Jane Street Group LLC increased its holdings in shares of Direxion Daily TSLA Bear 1X Shares by 1,421.6% in the 4th quarter. Jane Street Group LLC now owns 303,976 shares of the company's stock worth $2,447,000 after purchasing an additional 326,976 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of Direxion Daily TSLA Bear 1X Shares in the second quarter worth $1,360,000. Tower Research Capital LLC TRC grew its holdings 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 worth $1,086,000 after acquiring an additional 93,459 shares during the period. StoneX Group Inc. grew its holdings 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 acquiring an additional 45,021 shares during the period. Finally, GTS Securities LLC bought a new stake in shares of Direxion Daily TSLA Bear 1X Shares in the fourth quarter worth $468,000.

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.