Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) Shares Up 10.2% – Should You Buy?

Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) traded up 10.2% during mid-day trading on Monday . The company traded as high as $13.58 and last traded at $13.55. 31,521,794 shares were traded during trading, a decline of 60% from the average daily volume of 78,530,063 shares. The stock had previously closed at $12.30.

Direxion Daily TSLA Bull 2X Shares Price Performance

The business’s 50 day moving average price is $13.87 and its 200 day moving average price is $15.11. The stock has a market capitalization of $4.78 billion, a P/E ratio of 88.55 and a beta of 2.70.

Direxion Daily TSLA Bull 2X Shares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were issued a $0.1049 dividend. The ex-dividend date was Tuesday, June 23rd. This represents a $0.42 annualized dividend and a yield of 3.0%.

Institutional Investors Weigh In On Direxion Daily TSLA Bull 2X Shares

A number of hedge funds have recently added to or reduced their stakes in TSLL. Renaissance Technologies LLC raised its stake in Direxion Daily TSLA Bull 2X Shares by 2,438.5% during the 1st quarter. Renaissance Technologies LLC now owns 2,198,300 shares of the company’s stock valued at $26,709,000 after buying an additional 2,111,700 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Direxion Daily TSLA Bull 2X Shares by 1,541.0% in the fourth quarter. Bank of Montreal Can now owns 1,476,100 shares of the company’s stock worth $28,208,000 after acquiring an additional 1,386,150 shares during the period. UBS Group AG grew its holdings in shares of Direxion Daily TSLA Bull 2X Shares by 9.0% in the third quarter. UBS Group AG now owns 7,933,334 shares of the company’s stock worth $167,473,000 after acquiring an additional 654,265 shares during the period. Flow Traders U.S. LLC purchased a new stake in Direxion Daily TSLA Bull 2X Shares during the third quarter valued at $13,256,000. Finally, Virtu Financial LLC purchased a new stake in Direxion Daily TSLA Bull 2X Shares during the fourth quarter valued at $5,913,000.

About Direxion Daily TSLA Bull 2X Shares

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.