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

Direxion Daily TSLA Bear 1X Shares (NASDAQ:TSLS) was the recipient of a significant growth in short interest during the month of September. As of September 15th, there was short interest totaling 1,880,000 shares, a growth of 155.2% from the August 31st total of 736,800 shares. Based on an average daily trading volume, of 27,985,600 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily trading volume, of 27,985,600 shares, the days-to-cover ratio is currently 0.1 days.

Direxion Daily TSLA Bear 1X Shares Price Performance

Direxion Daily TSLA Bear 1X Shares stock opened at $5.46 on Friday. The company’s fifty day moving average price is $6.83 and its two-hundred day moving average price is $8.27. Direxion Daily TSLA Bear 1X Shares has a one year low of $5.08 and a one year high of $17.58.

Direxion Daily TSLA Bear 1X Shares Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 23rd were given a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Tuesday, September 23rd.

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

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Advisory Services Network LLC bought a new stake in shares of Direxion Daily TSLA Bear 1X Shares in the second quarter valued at about $1,360,000. Tower Research Capital LLC TRC lifted its stake 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 valued at $1,086,000 after buying an additional 93,459 shares during the period. StoneX Group Inc. lifted 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 valued at $486,000 after buying an additional 45,021 shares during the period. RMR Capital Management LLC lifted its stake in shares of Direxion Daily TSLA Bear 1X Shares by 229.3% in the first quarter. RMR Capital Management LLC now owns 43,677 shares of the company’s stock valued at $489,000 after buying an additional 30,414 shares during the period. Finally, Group One Trading LLC lifted its stake in shares of Direxion Daily TSLA Bear 1X Shares by 711.2% in the second quarter. Group One Trading LLC now owns 39,628 shares of the company’s stock valued at $311,000 after buying an additional 34,743 shares during the period.

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.