Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) Stock Price Down 7.2% – Should You Sell?

Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) were down 7.2% during mid-day trading on Monday . The stock traded as low as $14.66 and last traded at $14.78. Approximately 49,702,439 shares were traded during mid-day 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 Stock Down 6.8%

The firm’s 50-day moving average price is $13.29 and its 200-day moving average price is $16.03. The company has a market cap of $6.09 billion, a P/E ratio of 88.55 and a beta of 2.60.

Direxion Daily TSLA Bull 2X Shares Cuts Dividend

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

Institutional Trading of Direxion Daily TSLA Bull 2X Shares

Several hedge funds and other institutional investors have recently modified their holdings of the business. Bison Wealth LLC purchased a new position in Direxion Daily TSLA Bull 2X Shares during the fourth quarter valued at approximately $1,514,000. NewEdge Advisors LLC grew its stake in Direxion Daily TSLA Bull 2X Shares by 255.7% in the 1st quarter. NewEdge Advisors LLC now owns 38,240 shares of the company’s stock worth $364,000 after buying an additional 27,490 shares in the last quarter. Jump Financial LLC purchased a new position in Direxion Daily TSLA Bull 2X Shares in the 2nd quarter worth approximately $126,000. Snowden Capital Advisors LLC purchased a new position in Direxion Daily TSLA Bull 2X Shares in the 2nd quarter worth approximately $2,136,000. Finally, Captrust Financial Advisors grew its stake in Direxion Daily TSLA Bull 2X Shares by 27.7% in the 2nd quarter. Captrust Financial Advisors now owns 78,116 shares of the company’s stock worth $923,000 after buying an additional 16,938 shares in 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.