Direxion Daily TSLA Bull 2X ETF (NASDAQ:TSLL) Shares Down 4.5% – Should You Sell?

Direxion Daily TSLA Bull 2X ETF (NASDAQ:TSLL)’s share price traded down 4.5% during trading on Wednesday. The company traded as low as $11.30 and last traded at $11.1030. 10,756,600 shares changed hands during trading, a decline of 86% from the average daily volume of 77,751,055 shares. The stock had previously closed at $11.63.

Direxion Daily TSLA Bull 2X ETF Trading Down 0.5%

The business has a 50-day moving average price of $9.79 and a two-hundred day moving average price of $12.40. The stock has a market capitalization of $3.90 billion, a P/E ratio of 88.55 and a beta of 2.85.

Hedge Funds Weigh In On Direxion Daily TSLA Bull 2X ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC raised its position in Direxion Daily TSLA Bull 2X ETF by 2,438.5% during the first quarter. Renaissance Technologies LLC now owns 2,198,300 shares of the company’s stock valued at $26,709,000 after purchasing an additional 2,111,700 shares in the last quarter. Turner Financial Group Inc. acquired a new stake in shares of Direxion Daily TSLA Bull 2X ETF in the 2nd quarter valued at $3,646,000. Royal Bank of Canada boosted its holdings in shares of Direxion Daily TSLA Bull 2X ETF by 36,531.8% in the 1st quarter. Royal Bank of Canada now owns 102,569 shares of the company’s stock valued at $1,246,000 after purchasing an additional 102,289 shares in the last quarter. Dakota Community Bank & Trust NA boosted its holdings in shares of Direxion Daily TSLA Bull 2X ETF by 628.1% in the 3rd quarter. Dakota Community Bank & Trust NA now owns 53,695 shares of the company’s stock valued at $484,000 after purchasing an additional 46,320 shares in the last quarter. Finally, Family Office Research LLC bought a new position in shares of Direxion Daily TSLA Bull 2X ETF in the 3rd quarter valued at $477,000.

Direxion Daily TSLA Bull 2X ETF Company Profile

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.