Direxion Daily TSLA Bull 2X ETF (NASDAQ:TSLL) Stock Falls 4.5% – Here’s What Happened

Direxion Daily TSLA Bull 2X ETF (NASDAQ:TSLL) shares dropped 4.5% on Wednesday. The company traded as low as $11.30 and last traded at $11.1030. Approximately 10,756,600 shares were traded during mid-day trading, a decline of 86% from the average session volume of 77,751,055 shares. The stock had previously closed at $11.63.

Direxion Daily TSLA Bull 2X ETF Trading Down 2.9%

The firm has a market capitalization of $4.11 billion, a PE ratio of 88.55 and a beta of 2.85. The stock’s 50 day moving average price is $9.68 and its two-hundred day moving average price is $12.47.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Turner Financial Group Inc. acquired a new position in Direxion Daily TSLA Bull 2X ETF in the second quarter valued at approximately $3,646,000. Renaissance Technologies LLC increased its stake in Direxion Daily TSLA Bull 2X ETF by 2,438.5% in the 1st quarter. Renaissance Technologies LLC now owns 2,198,300 shares of the company’s stock valued at $26,709,000 after buying an additional 2,111,700 shares during the period. Family Office Research LLC acquired a new position in Direxion Daily TSLA Bull 2X ETF in the third quarter worth approximately $477,000. Royal Bank of Canada lifted its position in shares of Direxion Daily TSLA Bull 2X ETF by 36,531.8% in the first quarter. Royal Bank of Canada now owns 102,569 shares of the company’s stock worth $1,246,000 after buying an additional 102,289 shares during the last quarter. Finally, Tactive Advisors LLC grew its holdings in Direxion Daily TSLA Bull 2X ETF by 31.7% during the second quarter. Tactive Advisors LLC now owns 16,600 shares of the company’s stock valued at $235,000 after purchasing an additional 4,000 shares during the last quarter.

About Direxion Daily TSLA Bull 2X ETF

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.