Direxion Daily TSLA Bull 2X ETF (NASDAQ:TSLL) Shares Up 7.7% – Should You Buy?

Shares of Direxion Daily TSLA Bull 2X ETF (NASDAQ:TSLL) were up 7.7% during trading on Thursday . The stock traded as high as $9.99 and last traded at $10.0270. 12,070,844 shares changed hands during trading, a decline of 85% from the average daily volume of 80,338,883 shares. The stock had previously closed at $9.31.

Direxion Daily TSLA Bull 2X ETF Trading Up 5.5%

The firm has a market cap of $3.88 billion, a price-to-earnings ratio of 88.55 and a beta of 2.84. The stock’s 50 day moving average is $9.32 and its 200 day moving average is $11.98.

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

Institutional investors and hedge funds have recently made changes to their positions in the company. Summit Securities Group LLC acquired a new stake in Direxion Daily TSLA Bull 2X ETF during the 1st quarter worth approximately $36,000. Bessemer Group Inc. acquired a new position in Direxion Daily TSLA Bull 2X ETF in the 1st quarter valued at $48,000. SOA Wealth Advisors LLC. grew its holdings in Direxion Daily TSLA Bull 2X ETF by 17.3% in the 1st quarter. SOA Wealth Advisors LLC. now owns 6,783 shares of the company’s stock valued at $82,000 after buying an additional 1,000 shares in the last quarter. Parallel Advisors LLC increased its position in Direxion Daily TSLA Bull 2X ETF by 19.4% during the 1st quarter. Parallel Advisors LLC now owns 7,892 shares of the company’s stock worth $96,000 after buying an additional 1,281 shares during the period. Finally, Forty three Eighteen Advisors LLC bought a new position in Direxion Daily TSLA Bull 2X ETF during the 1st quarter worth $122,000.

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.