Direxion Daily TSLA Bull 2X ETF (NASDAQ:TSLL) Shares Gap Up – Should You Buy?

Direxion Daily TSLA Bull 2X ETF (NASDAQ:TSLL) shares gapped up before the market opened on Monday. The stock had previously closed at $9.76, but opened at $10.36. Direxion Daily TSLA Bull 2X ETF shares last traded at $10.9120, with a volume of 19,857,972 shares changing hands.

Direxion Daily TSLA Bull 2X ETF Stock Up 8.1%

The company has a market cap of $4.23 billion, a PE ratio of 88.55 and a beta of 2.85. The company’s fifty day moving average is $9.68 and its 200-day moving average is $12.47.

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

A number of institutional investors and hedge funds have recently modified their holdings of TSLL. PayPay Securities Corp grew its holdings in shares of Direxion Daily TSLA Bull 2X ETF by 57.4% in the third quarter. PayPay Securities Corp now owns 2,850 shares of the company’s stock worth $26,000 after acquiring an additional 1,039 shares during the period. James J. Burns & Company LLC bought a new position in Direxion Daily TSLA Bull 2X ETF in the third quarter valued at about $98,000. T3 Companies LLC purchased a new position in Direxion Daily TSLA Bull 2X ETF in the third quarter worth about $146,000. Milestone Asset Management LLC boosted its position in Direxion Daily TSLA Bull 2X ETF by 26.7% in the third quarter. Milestone Asset Management LLC now owns 51,049 shares of the company’s stock worth $460,000 after purchasing an additional 10,756 shares during the last quarter. Finally, Family Office Research LLC purchased a new position in Direxion Daily TSLA Bull 2X ETF in the third quarter worth about $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.