Direxion Daily TSLA Bull 2X ETF (NASDAQ:TSLL) Shares Down 18.4% – Here’s What Happened

Direxion Daily TSLA Bull 2X ETF (NASDAQ:TSLL)’s stock price dropped 18.4% during mid-day trading on Thursday. The stock traded as low as $8.45 and last traded at $8.4670. Approximately 15,056,868 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 76,624,563 shares. The stock had previously closed at $10.37.

Direxion Daily TSLA Bull 2X ETF Price Performance

The business has a 50 day moving average of $9.90 and a 200 day moving average of $12.16. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of 88.55 and a beta of 2.77.

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

Several institutional investors have recently modified their holdings of TSLL. SOA Wealth Advisors LLC. grew its holdings in Direxion Daily TSLA Bull 2X ETF by 17.3% during the first quarter. SOA Wealth Advisors LLC. now owns 6,783 shares of the company’s stock valued at $82,000 after purchasing an additional 1,000 shares during the period. PayPay Securities Corp boosted its position in shares of Direxion Daily TSLA Bull 2X ETF by 57.4% during the third quarter. PayPay Securities Corp now owns 2,850 shares of the company’s stock worth $26,000 after purchasing an additional 1,039 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Direxion Daily TSLA Bull 2X ETF by 19.4% during the first quarter. Parallel Advisors LLC now owns 7,892 shares of the company’s stock worth $96,000 after purchasing an additional 1,281 shares in the last quarter. Toth Financial Advisory Corp bought a new position in shares of Direxion Daily TSLA Bull 2X ETF during the third quarter worth $25,000. Finally, 180 Wealth Advisors LLC grew its holdings in shares of Direxion Daily TSLA Bull 2X ETF by 12.5% in the 3rd quarter. 180 Wealth Advisors LLC now owns 26,062 shares of the company’s stock valued at $235,000 after buying an additional 2,906 shares during the period.

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.