Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) Trading 9% Higher – Here’s Why

Shares of Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) rose 9% on Thursday . The stock traded as high as $22.89 and last traded at $22.7860. Approximately 49,627,957 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 151,441,297 shares. The stock had previously closed at $20.91.

Direxion Daily TSLA Bull 2X Shares Stock Down 1.0%

The firm’s fifty day moving average price is $19.61 and its 200 day moving average price is $15.85. The stock has a market cap of $8.26 billion, a PE ratio of 88.55 and a beta of 2.85.

Direxion Daily TSLA Bull 2X Shares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 10th were paid a $0.5794 dividend. This represents a $2.32 annualized dividend and a yield of 10.5%. The ex-dividend date was Wednesday, December 10th. This is an increase from Direxion Daily TSLA Bull 2X Shares’s previous quarterly dividend of $0.09.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. CacheTech Inc. lifted its position in shares of Direxion Daily TSLA Bull 2X Shares by 250.0% in the third quarter. CacheTech Inc. now owns 35,000 shares of the company’s stock worth $739,000 after buying an additional 25,000 shares in the last quarter. Prelude Capital Management LLC bought a new stake in Direxion Daily TSLA Bull 2X Shares in the 3rd quarter worth approximately $317,000. Mariner LLC raised its holdings in shares of Direxion Daily TSLA Bull 2X Shares by 202.6% during the 3rd quarter. Mariner LLC now owns 133,877 shares of the company’s stock worth $2,826,000 after acquiring an additional 89,641 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its position in shares of Direxion Daily TSLA Bull 2X Shares by 477.7% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 67,300 shares of the company’s stock valued at $1,421,000 after acquiring an additional 55,650 shares during the last quarter. Finally, Flow Traders U.S. LLC bought a new position in shares of Direxion Daily TSLA Bull 2X Shares during the 3rd quarter valued at approximately $13,256,000.

About Direxion Daily TSLA Bull 2X Shares

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.