Direxion Daily TSLA Bull 2X ETF (NASDAQ:TSLL) Shares Gap Up – What’s Next?

Direxion Daily TSLA Bull 2X ETF (NASDAQ:TSLL)’s share price gapped up prior to trading on Friday. The stock had previously closed at $9.32, but opened at $9.65. Direxion Daily TSLA Bull 2X ETF shares last traded at $9.0760, with a volume of 52,854,994 shares trading hands.

Direxion Daily TSLA Bull 2X ETF Price Performance

The stock has a market capitalization of $3.34 billion, a P/E ratio of 88.55 and a beta of 2.85. The stock’s fifty day moving average is $9.42 and its 200-day moving average is $11.40.

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

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC raised its stake in shares of Direxion Daily TSLA Bull 2X ETF by 2,438.5% in the first 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 bought a new stake in shares of Direxion Daily TSLA Bull 2X ETF during the fourth quarter worth $5,913,000. Turner Financial Group Inc. acquired a new position in Direxion Daily TSLA Bull 2X ETF during the 2nd quarter worth about $3,646,000. Royal Bank of Canada increased 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 purchasing an additional 102,289 shares in the last quarter. Finally, Discipline Wealth Solutions LLC increased its stake in shares of Direxion Daily TSLA Bull 2X ETF by 15.1% in the 1st quarter. Discipline Wealth Solutions LLC now owns 51,189 shares of the company’s stock valued at $622,000 after buying an additional 6,710 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.