Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) Shares Gap Up – Still a Buy?

Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) gapped up prior to trading on Thursday . The stock had previously closed at $9.37, but opened at $9.83. Direxion Daily TSLA Bull 2X Shares shares last traded at $10.2360, with a volume of 26,184,133 shares.

Direxion Daily TSLA Bull 2X Shares Stock Performance

The stock has a fifty day simple moving average of $9.99 and a 200-day simple moving average of $12.39. The stock has a market cap of $4.58 billion, a P/E ratio of 88.55 and a beta of 2.83.

Direxion Daily TSLA Bull 2X Shares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd were given a dividend of $0.1049 per share. This represents a $0.42 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Tuesday, June 23rd.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TSLL. Anfield Capital Management LLC lifted its stake in Direxion Daily TSLA Bull 2X Shares by 100.0% in the 4th quarter. Anfield Capital Management LLC now owns 2,000 shares of the company’s stock valued at $38,000 after acquiring an additional 1,000 shares in the last quarter. BOKF NA bought a new position in shares of Direxion Daily TSLA Bull 2X Shares during the 3rd quarter worth approximately $46,000. Summit Securities Group LLC acquired a new stake in shares of Direxion Daily TSLA Bull 2X Shares in the first quarter valued at approximately $36,000. Bessemer Group Inc. acquired a new stake in shares of Direxion Daily TSLA Bull 2X Shares in the first quarter valued at approximately $48,000. Finally, Federation des caisses Desjardins du Quebec lifted its position in shares of Direxion Daily TSLA Bull 2X Shares by 232.8% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 4,825 shares of the company’s stock worth $92,000 after purchasing an additional 3,375 shares in the last quarter.

Direxion Daily TSLA Bull 2X Shares 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.