Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) Sees Large Volume Increase - Should You Buy?

The trading activity of Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) surged on Monday, with a total of 38,667,719 shares changing hands. This marks an increase of 6% compared to the previous trading session, which saw a volume of 36,471,043 shares. The stock was last quoted at $14.09, rising from its previous close of $13.80.

Current Stock Performance of Direxion Daily TSLA Bull 2X Shares

Currently, the 50-day simple moving average for TSLL stands at $10.88, while the 200-day simple moving average is at $9.77. The market capitalization for the company is approximately $2.80 billion. The stock has a price-to-earnings (PE) ratio of 40.38 and a beta value of -5.14, indicating its volatility in relation to the market.

Dividend Increase Announced

Recently, Direxion Daily TSLA Bull 2X Shares announced an increase in its quarterly dividend. The firm paid a dividend of $0.0803 on October 1st to shareholders who were on record as of September 24th. This equates to an annualized dividend of $0.32, yielding about 2.34%. This revision marks an increase from the previous quarterly dividend of $0.08.

Institutional Investors' Activity

In recent quarters, various institutional investors have been adjusting their stakes in Direxion Daily TSLA Bull 2X Shares. For instance, Headlands Technologies LLC acquired a new stake worth approximately $54,000 in the first quarter. In the second quarter, Beacon Capital Management LLC took up a position valued at around $120,000. AE Wealth Management LLC also boosted its holdings in the company by 16%, owning a total of 14,476 shares after acquiring an additional 2,000 shares last quarter. Other institutional players, including B. Riley Wealth Advisors Inc. and Sloy Dahl & Holst LLC, have also made investments in the stock, signaling a growing interest from larger investors.

Company Overview

Direxion Daily TSLA Bull 2X Shares aims to provide investors with a leveraged exposure to Tesla Inc.'s stock, making it a popular choice for those looking to capitalize on Tesla's market movements.

Investment Considerations

Before investing $1,000 in Direxion Daily TSLA Bull 2X Shares, investors should weigh various factors. Analysts currently maintain a "hold" rating on TSLL, suggesting a cautious approach. It’s essential to gather insights from top-rated analysts who may recommend alternative investments that could potentially yield higher returns.

In summary, while the recent increase in trading volume of TSLL indicates heightened interest, potential investors should consider the broader market context and seek out expert recommendations before making significant financial decisions.

TSLA, Volume, Dividend