Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) Shares Gap Down – Here’s Why

Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $12.77, but opened at $11.61. Direxion Daily TSLA Bull 2X Shares shares last traded at $11.87, with a volume of 23,178,723 shares.

Direxion Daily TSLA Bull 2X Shares Stock Down 7.4%

The stock has a fifty day moving average price of $14.91 and a two-hundred day moving average price of $17.96. The company has a market capitalization of $4.32 billion, a price-to-earnings ratio of 88.55 and a beta of 2.85.

Direxion Daily TSLA Bull 2X Shares Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors 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 annualized dividend and a yield of 3.4%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TSLL. Virtu Financial LLC acquired a new stake in shares of Direxion Daily TSLA Bull 2X Shares during the 4th quarter worth about $5,913,000. Mariner LLC raised its position in shares of Direxion Daily TSLA Bull 2X Shares by 63.7% in the fourth quarter. Mariner LLC now owns 219,178 shares of the company’s stock valued at $4,188,000 after buying an additional 85,301 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Direxion Daily TSLA Bull 2X Shares during the fourth quarter valued at approximately $3,071,000. Summit Financial LLC lifted its stake in shares of Direxion Daily TSLA Bull 2X Shares by 10.1% during the fourth quarter. Summit Financial LLC now owns 114,860 shares of the company’s stock valued at $2,195,000 after buying an additional 10,532 shares during the period. Finally, Federation des caisses Desjardins du Quebec boosted its position in Direxion Daily TSLA Bull 2X Shares by 232.8% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 4,825 shares of the company’s stock worth $92,000 after acquiring an additional 3,375 shares during the last quarter.

Direxion Daily TSLA Bull 2X Shares Company Profile

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.