Direxion Daily TSLA Bear 1X Shares (NASDAQ:TSLS) Shares Up 2.8% – Time to Buy?

Direxion Daily TSLA Bear 1X Shares (NASDAQ:TSLS)’s share price shot up 2.8% during mid-day trading on Monday . The stock traded as high as $54.34 and last traded at $53.78. 602,865 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 3,559,649 shares. The stock had previously closed at $52.30.

Direxion Daily TSLA Bear 1X Shares Stock Down 3.3%

The company’s 50 day moving average price is $57.98 and its 200 day moving average price is $54.68.

Direxion Daily TSLA Bear 1X Shares Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th were issued a $0.338 dividend. The ex-dividend date of this dividend was Tuesday, March 24th. This represents a $1.35 annualized dividend and a dividend yield of 2.6%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ridgecrest Wealth Partners LLC lifted its holdings in shares of Direxion Daily TSLA Bear 1X Shares by 64.6% during the 4th quarter. Ridgecrest Wealth Partners LLC now owns 39,485 shares of the company’s stock valued at $200,000 after purchasing an additional 15,500 shares in the last quarter. IMC Chicago LLC increased its stake in Direxion Daily TSLA Bear 1X Shares by 33.2% during the 3rd quarter. IMC Chicago LLC now owns 618,911 shares of the company’s stock worth $3,330,000 after purchasing an additional 154,092 shares in the last quarter. XTX Topco Ltd bought a new stake in Direxion Daily TSLA Bear 1X Shares during the 4th quarter worth approximately $129,000. PayPay Securities Corp raised its holdings in Direxion Daily TSLA Bear 1X Shares by 103.6% during the 4th quarter. PayPay Securities Corp now owns 15,254 shares of the company’s stock worth $77,000 after buying an additional 7,762 shares during the period. Finally, Flow Traders U.S. LLC bought a new position in Direxion Daily TSLA Bear 1X Shares in the third quarter valued at approximately $867,000.

Direxion Daily TSLA Bear 1X Shares Company Profile

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.