Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) Stock Price Down 7.2% – Here’s Why

Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) shares were down 7.2% on Monday . The stock traded as low as $14.66 and last traded at $14.78. Approximately 49,702,439 shares changed hands during trading, a decline of 39% from the average daily volume of 82,000,195 shares. The stock had previously closed at $15.92.

Direxion Daily TSLA Bull 2X Shares Price Performance

The stock has a market capitalization of $5.95 billion, a price-to-earnings ratio of 88.55 and a beta of 2.60. The business’s 50 day simple moving average is $13.32 and its 200-day simple moving average is $15.99.

Direxion Daily TSLA Bull 2X Shares Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th were given a dividend of $0.0994 per share. The ex-dividend date was Tuesday, March 24th. This represents a $0.40 annualized dividend and a dividend yield of 2.7%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. IMC Chicago LLC lifted its stake in Direxion Daily TSLA Bull 2X Shares by 60.7% during the third quarter. IMC Chicago LLC now owns 429,436 shares of the company’s stock worth $9,065,000 after purchasing an additional 162,286 shares during the last quarter. Flow Traders U.S. LLC bought a new position in shares of Direxion Daily TSLA Bull 2X Shares in the 3rd quarter valued at $13,256,000. Optiver Holding B.V. acquired a new position in shares of Direxion Daily TSLA Bull 2X Shares during the 3rd quarter worth $1,697,000. Sloy Dahl & Holst LLC raised its holdings in shares of Direxion Daily TSLA Bull 2X Shares by 19.0% during the 4th quarter. Sloy Dahl & Holst LLC now owns 1,688,402 shares of the company’s stock worth $32,265,000 after buying an additional 269,324 shares in the last quarter. Finally, Stevens Capital Management LP bought a new stake in shares of Direxion Daily TSLA Bull 2X Shares during the 3rd quarter worth $1,350,000.

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.