Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) Trading 7.5% Higher – Still a Buy?

Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL)’s stock price traded up 7.5% during mid-day trading on Wednesday . The company traded as high as $12.46 and last traded at $12.41. 47,111,816 shares changed hands during trading, a decline of 38% from the average session volume of 75,812,219 shares. The stock had previously closed at $11.54.

Direxion Daily TSLA Bull 2X Shares Trading Down 1.7%

The stock has a 50 day moving average of $13.69 and a 200-day moving average of $17.33. The company has a market capitalization of $5.11 billion, a P/E ratio of 88.55 and a beta of 2.92.

Direxion Daily TSLA Bull 2X Shares Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th were paid a dividend of $0.0994 per share. The ex-dividend date was Tuesday, March 24th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.0%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new position in Direxion Daily TSLA Bull 2X Shares in the 4th quarter worth approximately $5,913,000. Mariner LLC boosted its stake in Direxion Daily TSLA Bull 2X Shares by 63.7% in the 4th quarter. Mariner LLC now owns 219,178 shares of the company’s stock worth $4,188,000 after purchasing an additional 85,301 shares during the period. Headlands Technologies LLC bought a new position in Direxion Daily TSLA Bull 2X Shares in the 4th quarter worth approximately $3,071,000. Summit Financial LLC boosted its stake in Direxion Daily TSLA Bull 2X Shares by 10.1% in the 4th quarter. Summit Financial LLC now owns 114,860 shares of the company’s stock worth $2,195,000 after purchasing an additional 10,532 shares during the period. Finally, Federation des caisses Desjardins du Quebec boosted its stake in Direxion Daily TSLA Bull 2X Shares by 232.8% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 4,825 shares of the company’s stock worth $92,000 after purchasing an additional 3,375 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.