Short Interest in Direxion Daily TSLA Bear 1X Shares (NASDAQ:TSLS) Drops By 39.4%

Direxion Daily TSLA Bear 1X Shares (NASDAQ:TSLS) saw a large drop in short interest in the month of February. As of February 13th, there was short interest totaling 994,932 shares, a drop of 39.4% from the January 29th total of 1,641,008 shares. Based on an average daily volume of 68,427,331 shares, the days-to-cover ratio is currently 0.0 days. Currently, 7.1% of the shares of the stock are sold short. Currently, 7.1% of the shares of the stock are sold short. Based on an average daily volume of 68,427,331 shares, the days-to-cover ratio is currently 0.0 days.

Hedge Funds Weigh In On Direxion Daily TSLA Bear 1X Shares

A number of institutional investors have recently modified their holdings of TSLS. SBI Securities Co. Ltd. grew its holdings in Direxion Daily TSLA Bear 1X Shares by 21.6% in the 3rd quarter. SBI Securities Co. Ltd. now owns 15,255 shares of the company’s stock valued at $82,000 after buying an additional 2,714 shares during the last quarter. Simplex Trading LLC bought a new stake in shares of Direxion Daily TSLA Bear 1X Shares in the second quarter valued at approximately $47,000. PayPay Securities Corp grew its stake in shares of Direxion Daily TSLA Bear 1X Shares by 103.6% in the fourth quarter. PayPay Securities Corp now owns 15,254 shares of the company’s stock worth $77,000 after acquiring an additional 7,762 shares during the last quarter. Ridgecrest Wealth Partners LLC grew its stake in shares of Direxion Daily TSLA Bear 1X Shares by 53.4% in the third quarter. Ridgecrest Wealth Partners LLC now owns 23,985 shares of the company’s stock worth $129,000 after acquiring an additional 8,350 shares during the last quarter. Finally, Private Advisor Group LLC increased its position in Direxion Daily TSLA Bear 1X Shares by 133.6% during the third quarter. Private Advisor Group LLC now owns 25,000 shares of the company’s stock worth $134,000 after acquiring an additional 14,300 shares during the period.

Direxion Daily TSLA Bear 1X Shares Price Performance

Shares of NASDAQ:TSLS traded up $0.09 on Friday, reaching $5.64. 50,357,719 shares of the company traded hands, compared to its average volume of 64,530,770. The company’s 50 day moving average is $5.26 and its 200-day moving average is $5.61. Direxion Daily TSLA Bear 1X Shares has a fifty-two week low of $4.62 and a fifty-two week high of $13.88.

Shares of Direxion Daily TSLA Bear 1X Shares are scheduled to reverse split on the morning of Thursday, March 5th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, March 4th.

Direxion Daily TSLA Bear 1X Shares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 23rd were given a dividend of $0.0495 per share. The ex-dividend date of this dividend was Tuesday, December 23rd. This is a positive change from Direxion Daily TSLA Bear 1X Shares’s previous quarterly dividend of $0.04. This represents a $0.20 annualized dividend and a yield of 3.5%.

About Direxion Daily TSLA Bear 1X Shares

The Direxion Daily TSLA Bear 1X Shares (TSLS) is an exchange-traded fund that is based on the Tesla, Inc index. The fund provides inverse (-1x) exposure, less fees and expenses, to the daily price movement for shares of Tesla stock. TSLS was launched on Aug 9, 2022 and is managed by Direxion.