Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) Trading Down 6.1% – Time to Sell?

Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) shares were down 6.1% during mid-day trading on Thursday . The company traded as low as $13.58 and last traded at $13.62. Approximately 28,558,948 shares traded hands during trading, a decline of 64% from the average daily volume of 78,376,672 shares. The stock had previously closed at $14.50.

Direxion Daily TSLA Bull 2X Shares Stock Down 0.2%

The stock has a market cap of $4.30 billion, a PE ratio of 88.55 and a beta of 2.70. The company’s fifty day moving average is $13.87 and its 200 day moving average is $15.16.

Direxion Daily TSLA Bull 2X Shares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd were given a $0.1049 dividend. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $0.42 annualized dividend and a dividend yield of 3.4%.

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

Several hedge funds and other institutional investors have recently made changes to their positions in TSLL. Bison Wealth LLC purchased a new stake in Direxion Daily TSLA Bull 2X Shares during the 4th quarter worth $1,514,000. NewEdge Advisors LLC raised its position in Direxion Daily TSLA Bull 2X Shares by 255.7% in the first quarter. NewEdge Advisors LLC now owns 38,240 shares of the company’s stock valued at $364,000 after purchasing an additional 27,490 shares during the period. Jump Financial LLC acquired a new position in shares of Direxion Daily TSLA Bull 2X Shares during the second quarter worth about $126,000. Snowden Capital Advisors LLC acquired a new position in shares of Direxion Daily TSLA Bull 2X Shares during the second quarter worth about $2,136,000. Finally, Captrust Financial Advisors boosted its position in shares of Direxion Daily TSLA Bull 2X Shares by 27.7% in the second quarter. Captrust Financial Advisors now owns 78,116 shares of the company’s stock worth $923,000 after buying an additional 16,938 shares during the period.

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.