Direxion Daily TSLA Bull 2X ETF (NASDAQ:TSLL) Share Price Crosses Below Fifty Day Moving Average – Should You Sell?

Direxion Daily TSLA Bull 2X ETF (NASDAQ:TSLL) shares crossed below its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $9.91 and traded as low as $7.83. Direxion Daily TSLA Bull 2X ETF shares last traded at $8.10, with a volume of 74,818,379 shares trading hands.

Direxion Daily TSLA Bull 2X ETF Trading Up 8.6%

The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of 88.55 and a beta of 2.77. The firm’s 50 day moving average price is $9.90 and its two-hundred day moving average price is $12.16.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC increased its position in Direxion Daily TSLA Bull 2X ETF by 2,438.5% during the first quarter. Renaissance Technologies LLC now owns 2,198,300 shares of the company’s stock worth $26,709,000 after buying an additional 2,111,700 shares during the last quarter. Turner Financial Group Inc. acquired a new stake in shares of Direxion Daily TSLA Bull 2X ETF in the second quarter valued at approximately $3,646,000. StoneX Group Inc. acquired a new stake in shares of Direxion Daily TSLA Bull 2X ETF in the third quarter valued at approximately $1,883,000. Royal Bank of Canada boosted its stake in shares of Direxion Daily TSLA Bull 2X ETF by 36,531.8% during the 1st quarter. Royal Bank of Canada now owns 102,569 shares of the company’s stock worth $1,246,000 after acquiring an additional 102,289 shares during the period. Finally, Family Office Research LLC bought a new position in shares of Direxion Daily TSLA Bull 2X ETF during the 3rd quarter worth approximately $477,000.

Direxion Daily TSLA Bull 2X ETF 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.