Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) Shares Down 11.3% – Time to Sell?

Shares of Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) were down 11.3% during mid-day trading on Tuesday . The company traded as low as $12.20 and last traded at $12.29. Approximately 59,303,057 shares traded hands during mid-day trading, a decline of 27% from the average daily volume of 80,972,500 shares. The stock had previously closed at $13.86.

Direxion Daily TSLA Bull 2X Shares Price Performance

The stock has a market capitalization of $5.33 billion, a P/E ratio of 88.55 and a beta of 2.67. The business’s 50 day simple moving average is $13.46 and its 200-day simple moving average is $15.89.

Direxion Daily TSLA Bull 2X Shares Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th were paid a $0.0994 dividend. The ex-dividend date of this dividend was Tuesday, March 24th. This represents a $0.40 dividend on an annualized basis and a yield of 3.1%.

Hedge Funds Weigh In On Direxion Daily TSLA Bull 2X Shares

A number of hedge funds and other institutional investors have recently bought and sold shares of TSLL. SOA Wealth Advisors LLC. boosted its position in shares of Direxion Daily TSLA Bull 2X Shares by 17.3% during the first quarter. SOA Wealth Advisors LLC. now owns 6,783 shares of the company’s stock worth $82,000 after purchasing an additional 1,000 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Direxion Daily TSLA Bull 2X Shares by 36,531.8% during the first quarter. Royal Bank of Canada now owns 102,569 shares of the company’s stock worth $1,246,000 after purchasing an additional 102,289 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Direxion Daily TSLA Bull 2X Shares by 2,438.5% during the first quarter. Renaissance Technologies LLC now owns 2,198,300 shares of the company’s stock worth $26,709,000 after purchasing an additional 2,111,700 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Direxion Daily TSLA Bull 2X Shares by 19.4% during the first quarter. Parallel Advisors LLC now owns 7,892 shares of the company’s stock worth $96,000 after purchasing an additional 1,281 shares in the last quarter. Finally, Forty three Eighteen Advisors LLC bought a new position in shares of Direxion Daily TSLA Bull 2X Shares during the first quarter worth $122,000.

About Direxion Daily TSLA Bull 2X Shares

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.