Direxion Daily TSLA Bear 1X Shares (NASDAQ:TSLS) Sees Significant Decline in Short Interest

Direxion Daily TSLA Bear 1X Shares (NASDAQ:TSLS) was the recipient of a significant decline in short interest in the month of March. As of March 13th, there was short interest totaling 78,106 shares, a decline of 92.3% from the February 26th total of 1,008,133 shares. Based on an average trading volume of 4,861,613 shares, the days-to-cover ratio is presently 0.0 days. Currently, 5.6% of the company’s shares are sold short.

Direxion Daily TSLA Bear 1X Shares Stock Performance

Shares of Direxion Daily TSLA Bear 1X Shares stock traded up $0.32 during trading on Thursday, reaching $58.59. 119,562 shares of the stock were exchanged, compared to its average volume of 5,235,016. The stock’s fifty day moving average is $54.97 and its 200 day moving average is $54.80. Direxion Daily TSLA Bear 1X Shares has a 1 year low of $46.20 and a 1 year high of $131.70.

Direxion Daily TSLA Bear 1X Shares Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th will be given a dividend of $0.338 per share. The ex-dividend date of this dividend is Tuesday, March 24th. This represents a $1.35 dividend on an annualized basis and a yield of 2.3%.

Institutional Investors Weigh In On Direxion Daily TSLA Bear 1X Shares

Large investors have recently made changes to their positions in the business. StoneX Group Inc. increased its stake in shares of Direxion Daily TSLA Bear 1X Shares by 265.9% during the second quarter. StoneX Group Inc. now owns 61,950 shares of the company’s stock valued at $486,000 after buying an additional 45,021 shares during the period. Group One Trading LLC lifted its stake in Direxion Daily TSLA Bear 1X Shares by 711.2% in the second quarter. Group One Trading LLC now owns 39,628 shares of the company’s stock worth $311,000 after acquiring an additional 34,743 shares during the period. Tower Research Capital LLC TRC boosted its holdings in Direxion Daily TSLA Bear 1X Shares by 207.1% in the second quarter. Tower Research Capital LLC TRC now owns 138,578 shares of the company’s stock valued at $1,086,000 after acquiring an additional 93,459 shares in the last quarter. Advisory Services Network LLC purchased a new position in Direxion Daily TSLA Bear 1X Shares during the 2nd quarter valued at $1,360,000. Finally, Ridgecrest Wealth Partners LLC increased its position in Direxion Daily TSLA Bear 1X Shares by 53.4% during the 3rd quarter. Ridgecrest Wealth Partners LLC now owns 23,985 shares of the company’s stock valued at $129,000 after purchasing an additional 8,350 shares during the period.

Direxion Daily TSLA Bear 1X Shares Company Profile

The Direxion Daily TSLA Bear 1X Shares (TSLS) is an exchange-traded fund that is based on the Tesla, Inc index. The fund provides inverse (-1x) exposure, less fees and expenses, to the daily price movement for shares of Tesla stock. TSLS was launched on Aug 9, 2022 and is managed by Direxion.