Direxion Daily TSLA Bull 2X ETF (NASDAQ:TSLL) Stock Falls 5.8% – Here’s What Happened

Direxion Daily TSLA Bull 2X ETF (NASDAQ:TSLL)’s share price was down 5.8% during mid-day trading on Monday. The stock traded as low as $9.32 and last traded at $9.3630. Approximately 12,078,723 shares were traded during mid-day trading, a decline of 85% from the average session volume of 79,798,383 shares. The stock had previously closed at $9.94.

Direxion Daily TSLA Bull 2X ETF Stock Performance

The firm has a market capitalization of $3.60 billion, a P/E ratio of 88.55 and a beta of 2.84. The stock’s 50 day simple moving average is $9.00 and its 200 day simple moving average is $11.76.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC raised its position in Direxion Daily TSLA Bull 2X ETF by 2,438.5% during the 1st 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. Virtu Financial LLC purchased a new position in shares of Direxion Daily TSLA Bull 2X ETF during the fourth quarter valued at $5,913,000. Turner Financial Group Inc. bought a new stake in shares of Direxion Daily TSLA Bull 2X ETF in the second quarter valued at about $3,646,000. Royal Bank of Canada raised its holdings in shares of Direxion Daily TSLA Bull 2X ETF by 36,531.8% in the first quarter. Royal Bank of Canada now owns 102,569 shares of the company’s stock valued at $1,246,000 after acquiring an additional 102,289 shares in the last quarter. Finally, HighTower Advisors LLC lifted its stake in Direxion Daily TSLA Bull 2X ETF by 70.7% in the fourth quarter. HighTower Advisors LLC now owns 55,313 shares of the company’s stock worth $1,057,000 after acquiring an additional 22,902 shares during the period.

About Direxion Daily TSLA Bull 2X ETF

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.