Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) Trading Down 8.4% – Should You Sell?

Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL)’s share price dropped 8.4% during mid-day trading on Wednesday . The company traded as low as $21.43 and last traded at $21.0870. Approximately 90,006,587 shares were traded during trading, a decline of 41% from the average daily volume of 151,745,297 shares. The stock had previously closed at $23.03.

Direxion Daily TSLA Bull 2X Shares Price Performance

The business has a 50 day simple moving average of $19.47 and a 200 day simple moving average of $15.72. The company has a market cap of $7.83 billion, a price-to-earnings ratio of 88.55 and a beta of 2.85.

Direxion Daily TSLA Bull 2X Shares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 10th will be paid a $0.5794 dividend. The ex-dividend date of this dividend is Wednesday, December 10th. This is a boost from Direxion Daily TSLA Bull 2X Shares’s previous quarterly dividend of $0.09. This represents a $2.32 annualized dividend and a yield of 11.1%.

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

Several hedge funds and other institutional investors have recently made changes to their positions in TSLL. CacheTech Inc. raised 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 valued at $739,000 after purchasing an additional 25,000 shares during the period. Prelude Capital Management LLC bought a new stake in Direxion Daily TSLA Bull 2X Shares during the 3rd quarter worth $317,000. Mariner LLC increased its stake in shares of Direxion Daily TSLA Bull 2X Shares by 202.6% in the third quarter. Mariner LLC now owns 133,877 shares of the company’s stock valued at $2,826,000 after buying an additional 89,641 shares during the period. Mercer Global Advisors Inc. ADV increased its position in Direxion Daily TSLA Bull 2X Shares by 477.7% in 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 period. Finally, Flow Traders U.S. LLC acquired a new stake in Direxion Daily TSLA Bull 2X Shares in the third quarter valued at $13,256,000.

About Direxion Daily TSLA Bull 2X Shares