Direxion Daily TSLA Bull 2X ETF (NASDAQ:TSLL) Stock Price Up 10% – Time to Buy?

Shares of Direxion Daily TSLA Bull 2X ETF (NASDAQ:TSLL) traded up 10% during mid-day trading on Friday. The stock traded as high as $9.83 and last traded at $9.8670. Approximately 23,057,041 shares were traded during mid-day trading, a decline of 71% from the average session volume of 79,457,672 shares. The stock had previously closed at $8.97.

Direxion Daily TSLA Bull 2X ETF Stock Up 10.6%

The company’s 50-day simple moving average is $8.91 and its 200 day simple moving average is $11.61. The stock has a market capitalization of $3.86 billion, a price-to-earnings ratio of 88.55 and a beta of 2.84.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its holdings in Direxion Daily TSLA Bull 2X ETF by 2,438.5% during the first 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 during the period. Virtu Financial LLC bought a new stake in shares of Direxion Daily TSLA Bull 2X ETF in the fourth quarter valued at approximately $5,913,000. Turner Financial Group Inc. bought a new stake in Direxion Daily TSLA Bull 2X ETF in the 2nd quarter valued at $3,646,000. Royal Bank of Canada boosted its holdings in Direxion Daily TSLA Bull 2X ETF by 36,531.8% in the 1st quarter. Royal Bank of Canada now owns 102,569 shares of the company’s stock valued at $1,246,000 after purchasing an additional 102,289 shares during the period. Finally, HighTower Advisors LLC grew its position in Direxion Daily TSLA Bull 2X ETF by 70.7% during the fourth quarter. HighTower Advisors LLC now owns 55,313 shares of the company’s stock worth $1,057,000 after buying an additional 22,902 shares in the last quarter.

About Direxion Daily TSLA Bull 2X ETF

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.