Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) Trading 6.5% Higher - Should You Buy?

The Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) experienced a notable increase of 6.5% in its share price during trading on Friday. The stock reached a peak price of $13.42 and was last recorded at $13.29. In total, about 78,653,767 shares were traded, reflecting a 6% increase from the average daily volume of 74,365,953 shares. The previous closing price for the stock was $12.47.

Stock Performance Overview

The stock has a fifty-day simple moving average of $25.05 and a two-hundred-day simple moving average of $18.76. Currently, the market capitalization of Direxion Daily TSLA Bull 2X Shares stands at $2.60 billion, with a price-to-earnings (PE) ratio of 38.91 and a beta value of -5.14, indicating its volatility compared to the overall market.

Dividend Announcement

Recently, the company declared a dividend that was paid on Tuesday, December 31st. Shareholders who were on record as of Monday, December 23rd received a dividend of $0.1399. The ex-dividend date was also set for Monday, December 23rd.

Institutional Investor Activity

Several institutional investors have made adjustments to their positions in Direxion Daily TSLA Bull 2X Shares. For instance, Sanctuary Advisors LLC increased its stake by 13.7% in the fourth quarter, bringing its total to 12,500 shares valued at $327,000 after purchasing an additional 1,505 shares. Additionally, PayPay Securities Corp acquired a new stake during the fourth quarter valued at around $50,000. TRUE Private Wealth Advisors also raised its holdings by 5.0% in the third quarter, now owning 46,046 shares worth $636,000 after adding 2,204 shares. Similarly, Captrust Financial Advisors increased its position by 7.3%, acquiring 3,246 more shares for a total of 47,753 shares valued at $660,000. Furthermore, Tower Research Capital LLC TRC boosted its investment by 13.9%, owning 26,926 shares valued at $741,000 after an additional purchase of 3,294 shares.

Company Overview and Investment Consideration

When considering investing in Direxion Daily TSLA Bull 2X Shares, it's crucial to evaluate the current market conditions and analyst opinions. Despite the recent share price surge, most analysts maintain a "Hold" rating on the stock, suggesting that there are potentially better investment opportunities available. Investors are encouraged to explore alternatives as identified by market experts.

Investment Recommendations

For those contemplating an investment of $1,000 in Direxion Daily TSLA Bull 2X Shares, it is advisable to conduct thorough research. MarketBeat reports that leading analysts recommend five other stocks that they believe are more favorable at this time.

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