Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) Stock Price Down 4.5% – What’s Next?

Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL)’s share price dropped 4.5% during mid-day trading on Monday . The company traded as low as $10.84 and last traded at $10.86. Approximately 66,950,477 shares changed hands during trading, a decline of 7% from the average daily volume of 72,186,422 shares. The stock had previously closed at $11.37.

Direxion Daily TSLA Bull 2X Shares Stock Performance

The business’s 50 day simple moving average is $14.35 and its 200-day simple moving average is $17.72. The stock has a market capitalization of $3.66 billion, a price-to-earnings ratio of 88.55 and a beta of 2.92.

Direxion Daily TSLA Bull 2X Shares Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th were paid a dividend of $0.0994 per share. This represents a $0.40 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Tuesday, March 24th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Spire Wealth Management acquired a new position in Direxion Daily TSLA Bull 2X Shares during the 3rd quarter valued at about $30,000. Toth Financial Advisory Corp boosted its stake in Direxion Daily TSLA Bull 2X Shares by 99.2% during the 3rd quarter. Toth Financial Advisory Corp now owns 1,657 shares of the company’s stock valued at $35,000 after purchasing an additional 825 shares during the period. Anfield Capital Management LLC boosted its stake in Direxion Daily TSLA Bull 2X Shares by 100.0% during the 4th quarter. Anfield Capital Management LLC now owns 2,000 shares of the company’s stock valued at $38,000 after purchasing an additional 1,000 shares during the period. BOKF NA acquired a new position in Direxion Daily TSLA Bull 2X Shares during the 3rd quarter valued at about $46,000. Finally, PayPay Securities Corp boosted its stake in Direxion Daily TSLA Bull 2X Shares by 143.1% during the 4th quarter. PayPay Securities Corp now owns 2,339 shares of the company’s stock valued at $45,000 after purchasing an additional 1,377 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.