Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) Trading Down 4.4% - Here's Why

On Wednesday, shares of Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) experienced a decline of 4.4% in mid-day trading. The stock reached a low of $24.63 before closing at $24.80. The trading volume for the day was approximately 15,538,623 shares, which is significantly lower at 74% compared to its average daily volume of 59,499,941 shares. The previous closing was at $25.94.

Performance Overview

The current market capitalization of TSLL stands at approximately $4.71 billion. The stock carries a P/E ratio of 40.38 and has a beta of -5.14, indicating its volatility. The 50-day moving average for the stock is $27.76, while the 200-day moving average sits at $17.48.

Dividend Announcement

Recently, the company announced a dividend that was paid out on December 31. Shareholders recorded as of December 23 received a dividend of $0.1399 per share. The ex-dividend date was also December 23.

Institutional Investments

Several institutional investors have recently made changes to their positions in the shares of TSLL. For instance, Morse Asset Management Inc acquired a new stake valued at around $119,000 during the third quarter. Likewise, Sanctuary Advisors LLC and B. Riley Wealth Advisors Inc. made investments worth $152,000 and $213,000, respectively, also in the third quarter. In the fourth quarter, Client First Investment Management LLC purchased shares valued at approximately $327,000. Additionally, TRUE Private Wealth Advisors boosted its stake by 5% during the third quarter, bringing its total ownership to 46,046 shares valued at $636,000 after buying 2,204 more shares recently.

Understanding Direxion Daily TSLA Bull 2X Shares

As an ETF designed to provide leveraged exposure to Tesla, the Direxion Daily TSLA Bull 2X Shares seeks to amplify returns through a 2X leverage strategy. Investors should note that while this can result in higher returns, it also involves increased risk.

stocks, trading, dividend