Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) Trading Down 6.1% – Should You Sell?

Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) shares were down 6.1% during trading on Thursday . The company traded as low as $13.58 and last traded at $13.62. Approximately 28,558,948 shares changed hands during trading, a decline of 64% from the average daily volume of 78,376,672 shares. The stock had previously closed at $14.50.

Direxion Daily TSLA Bull 2X Shares Stock Down 12.1%

The company has a market cap of $4.47 billion, a price-to-earnings ratio of 88.55 and a beta of 2.70. The company has a fifty day simple moving average of $13.89 and a two-hundred day simple moving average of $15.23.

Direxion Daily TSLA Bull 2X Shares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were given a $0.1049 dividend. The ex-dividend date was Tuesday, June 23rd. This represents a $0.42 annualized dividend and a dividend yield of 3.3%.

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

A number of large investors have recently added to or reduced their stakes in TSLL. Flow Traders U.S. LLC purchased a new position in Direxion Daily TSLA Bull 2X Shares during the 3rd quarter valued at about $13,256,000. Sloy Dahl & Holst LLC lifted its holdings in shares of Direxion Daily TSLA Bull 2X Shares by 19.0% in the fourth quarter. Sloy Dahl & Holst LLC now owns 1,688,402 shares of the company’s stock valued at $32,265,000 after purchasing an additional 269,324 shares in the last quarter. Genesis Financial Group LLC acquired a new stake in shares of Direxion Daily TSLA Bull 2X Shares in the fourth quarter valued at approximately $886,000. Virtu Financial LLC acquired a new stake in shares of Direxion Daily TSLA Bull 2X Shares in the fourth quarter valued at approximately $5,913,000. Finally, Bison Wealth LLC purchased a new position in shares of Direxion Daily TSLA Bull 2X Shares during the 4th quarter worth approximately $1,514,000.

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.