Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) Stock Price Down 7.2% – Should You Sell?

Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) traded down 7.2% on Monday . The company traded as low as $14.66 and last traded at $14.78. 49,702,439 shares changed hands during trading, a decline of 39% from the average session volume of 82,000,195 shares. The stock had previously closed at $15.92.

Direxion Daily TSLA Bull 2X Shares Price Performance

The business’s 50-day moving average price is $13.29 and its two-hundred day moving average price is $16.03. The company has a market capitalization of $6.09 billion, a P/E ratio of 88.55 and a beta of 2.60.

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 2.7%. 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 the company. Anfield Capital Management LLC lifted its position in Direxion Daily TSLA Bull 2X Shares by 100.0% in the 4th quarter. Anfield Capital Management LLC now owns 2,000 shares of the company’s stock valued at $38,000 after acquiring an additional 1,000 shares in the last quarter. BOKF NA acquired a new stake in shares of Direxion Daily TSLA Bull 2X Shares during the third quarter worth $46,000. PayPay Securities Corp grew its holdings in Direxion Daily TSLA Bull 2X Shares by 143.1% in the fourth quarter. PayPay Securities Corp now owns 2,339 shares of the company’s stock worth $45,000 after purchasing an additional 1,377 shares during the period. Summit Securities Group LLC acquired a new stake in Direxion Daily TSLA Bull 2X Shares in the first quarter worth $36,000. Finally, Bessemer Group Inc. bought a new position in shares of Direxion Daily TSLA Bull 2X Shares during the first quarter valued at about $48,000.

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.