Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) Shares Down 11.3% – Time to Sell?

Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) dropped 11.3% on Tuesday . The company traded as low as $12.20 and last traded at $12.29. Approximately 59,303,057 shares were traded during trading, a decline of 27% from the average daily volume of 80,972,500 shares. The stock had previously closed at $13.86.

Direxion Daily TSLA Bull 2X Shares Price Performance

The business’s 50-day moving average price is $13.46 and its two-hundred day moving average price is $15.89. The company has a market capitalization of $5.33 billion, a P/E ratio of 88.55 and a beta of 2.67.

Direxion Daily TSLA Bull 2X Shares Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th were given a dividend of $0.0994 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Tuesday, March 24th.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in TSLL. Renaissance Technologies LLC lifted its position in Direxion Daily TSLA Bull 2X Shares by 2,438.5% in the 1st quarter. Renaissance Technologies LLC now owns 2,198,300 shares of the company’s stock valued at $26,709,000 after acquiring an additional 2,111,700 shares in the last quarter. Bank of Montreal Can lifted its position in Direxion Daily TSLA Bull 2X Shares by 1,541.0% in the 4th quarter. Bank of Montreal Can now owns 1,476,100 shares of the company’s stock valued at $28,208,000 after acquiring an additional 1,386,150 shares in the last quarter. UBS Group AG lifted its position in Direxion Daily TSLA Bull 2X Shares by 9.0% in the 3rd quarter. UBS Group AG now owns 7,933,334 shares of the company’s stock valued at $167,473,000 after acquiring an additional 654,265 shares in the last quarter. Flow Traders U.S. LLC bought a new stake in Direxion Daily TSLA Bull 2X Shares in the 3rd quarter valued at $13,256,000. Finally, Virtu Financial LLC bought a new stake in Direxion Daily TSLA Bull 2X Shares in the 4th 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.