Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) Stock Price Down 8.9% – Time to Sell?

Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) shares dropped 8.9% during mid-day trading on Tuesday . The company traded as low as $16.40 and last traded at $16.3230. Approximately 65,478,754 shares were traded during trading, a decline of 11% from the average daily volume of 73,453,781 shares. The stock had previously closed at $17.91.

Direxion Daily TSLA Bull 2X Shares Price Performance

The company’s fifty day moving average price is $19.06 and its 200 day moving average price is $16.99. The company has a market cap of $5.52 billion, a PE ratio of 88.55 and a beta of 2.85.

Direxion Daily TSLA Bull 2X Shares Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 23rd were paid a $0.1122 dividend. The ex-dividend date was Tuesday, December 23rd. This represents a $0.45 annualized dividend and a yield of 2.7%.

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

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Sonora Investment Management Group LLC increased its stake in shares of Direxion Daily TSLA Bull 2X Shares by 5.2% in the third quarter. Sonora Investment Management Group LLC now owns 10,767 shares of the company’s stock worth $227,000 after purchasing an additional 531 shares in the last quarter. Toth Financial Advisory Corp boosted its holdings in Direxion Daily TSLA Bull 2X Shares by 99.2% in the 3rd quarter. Toth Financial Advisory Corp now owns 1,657 shares of the company’s stock worth $35,000 after buying an additional 825 shares during the period. 180 Wealth Advisors LLC grew its stake in Direxion Daily TSLA Bull 2X Shares by 5.3% in the 4th quarter. 180 Wealth Advisors LLC now owns 19,942 shares of the company’s stock valued at $381,000 after buying an additional 1,000 shares in the last quarter. AE Wealth Management LLC grew its stake in Direxion Daily TSLA Bull 2X Shares by 6.2% in the 3rd quarter. AE Wealth Management LLC now owns 19,853 shares of the company’s stock valued at $419,000 after buying an additional 1,161 shares in the last quarter. Finally, TRUE Private Wealth Advisors raised its holdings in Direxion Daily TSLA Bull 2X Shares by 3.0% during the 3rd quarter. TRUE Private Wealth Advisors now owns 45,171 shares of the company’s stock valued at $954,000 after acquiring an additional 1,317 shares during the period.

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.