Direxion Daily TSLA Bear 1X Shares Stock Scheduled to Reverse Split on Thursday, March 5th (NASDAQ:TSLS)

Shares of Direxion Daily TSLA Bear 1X Shares (NASDAQ:TSLS) are set to reverse split on Thursday, March 5th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, March 4th.

Direxion Daily TSLA Bear 1X Shares Stock Up 1.6%

NASDAQ TSLS opened at $5.64 on Friday. Direxion Daily TSLA Bear 1X Shares has a 12 month low of $4.62 and a 12 month high of $13.88. The firm’s fifty day moving average price is $5.26 and its 200 day moving average price is $5.62.

Direxion Daily TSLA Bear 1X Shares Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 23rd were issued a $0.0495 dividend. This is a positive change from Direxion Daily TSLA Bear 1X Shares’s previous quarterly dividend of $0.04. The ex-dividend date was Tuesday, December 23rd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.5%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. IMC Chicago LLC lifted its position in Direxion Daily TSLA Bear 1X Shares by 33.2% during the third quarter. IMC Chicago LLC now owns 618,911 shares of the company’s stock valued at $3,330,000 after buying an additional 154,092 shares in the last quarter. Headlands Technologies LLC raised its stake in shares of Direxion Daily TSLA Bear 1X Shares by 1,229.8% in the 4th quarter. Headlands Technologies LLC now owns 481,884 shares of the company’s stock valued at $2,443,000 after acquiring an additional 445,646 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Direxion Daily TSLA Bear 1X Shares during the 4th quarter valued at $2,156,000. Advisory Services Network LLC purchased a new stake in Direxion Daily TSLA Bear 1X Shares during the 2nd quarter worth $1,360,000. Finally, Flow Traders U.S. LLC acquired a new stake in Direxion Daily TSLA Bear 1X Shares in the 3rd quarter valued at $867,000.

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.