Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) Shares Gap Down - What's Next?

Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) experienced a gap down in its stock price before the market opened on Monday. The shares had closed the previous trading day at $21.13 but opened at $20.50. During trading, the stock was last seen at $20.61, with a trading volume of 22,371,782 shares.

Price Performance Overview

Currently, Direxion Daily TSLA Bull 2X Shares has a market capitalization of approximately $3.92 billion. The stock’s price-to-earnings (P/E) ratio stands at 40.38, and it has a beta of -5.14, indicating high volatility compared to the market. The fifty-day moving average for the stock is $28.29, while the 200-day moving average sits at $18.08.

Dividend Update

Recently, the company announced a dividend payment, which was issued on Tuesday, December 31st. The dividend of $0.1399 was paid to investors who were recorded on Monday, December 23rd, with the ex-dividend date also occurring on December 23rd.

Hedge Fund Activities

In recent months, various hedge funds have actively traded shares of Direxion Daily TSLA Bull 2X Shares. Notable transactions include Shengqi Capital Hong Kong Ltd, which bought a stake worth about $4,130,000 during the fourth quarter. Similarly, Chung Wu Investment Group LLC purchased a new position valued at approximately $399,000, while SBI Securities Co. Ltd. acquired shares worth about $5,752,000 in the same quarter. Global Retirement Partners LLC and Sanctuary Advisors LLC also made significant moves in the stock, with the latter increasing its stake by 13.7%, now holding 12,500 shares valued at $327,000 after adding 1,505 shares in the recent quarter.

Company Overview

Direxion Daily TSLA Bull 2X Shares is an exchange-traded fund (ETF) designed to deliver 2x the daily performance of Tesla, Inc. (NASDAQ: TSLA). This fund offers investors exposure tailored to the daily movements of Tesla's stock, making it attractive for those seeking leveraged opportunities within the electric vehicle market.

Investment Considerations

For investors considering whether to hold or sell Direxion Daily TSLA Bull 2X Shares, it is essential to assess current market conditions. Analysts currently rate the stock with a "Hold" recommendation. However, top analysts suggest that there may be better investment opportunities available elsewhere, directing interest toward five other stocks that have been recommended as more favorable options.

Direxion, Tesla, Shares