Direxion Daily TSLA Bull 2X ETF (NASDAQ:TSLL) Shares Up 6.1% – Here’s Why

Direxion Daily TSLA Bull 2X ETF (NASDAQ:TSLL) shot up 6.1% on Monday. The company traded as high as $9.46 and last traded at $9.45. Approximately 20,457,624 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 78,176,336 shares. The stock had previously closed at $8.91.

Direxion Daily TSLA Bull 2X ETF Stock Performance

The stock has a fifty day simple moving average of $9.50 and a 200-day simple moving average of $11.34. The stock has a market cap of $3.69 billion, a P/E ratio of 88.55 and a beta of 2.85.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC grew its stake in shares of 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 worth $26,709,000 after acquiring an additional 2,111,700 shares in the last quarter. Turner Financial Group Inc. acquired a new stake in shares of Direxion Daily TSLA Bull 2X ETF in the second quarter valued at approximately $3,646,000. Royal Bank of Canada lifted its position 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 worth $1,246,000 after purchasing an additional 102,289 shares in the last quarter. Family Office Research LLC bought a new stake in shares of Direxion Daily TSLA Bull 2X ETF in the third quarter worth $477,000. Finally, Dakota Community Bank & Trust NA lifted its position in shares of Direxion Daily TSLA Bull 2X ETF by 628.1% in the third quarter. Dakota Community Bank & Trust NA now owns 53,695 shares of the company’s stock worth $484,000 after purchasing an additional 46,320 shares in the last quarter.

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.