Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) Stock Price Down 5.6% – Should You Sell?

Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) dropped 5.6% during mid-day trading on Wednesday . The company traded as low as $19.16 and last traded at $19.42. Approximately 21,630,871 shares changed hands during trading, a decline of 47% from the average daily volume of 41,144,223 shares. The stock had previously closed at $20.58.

Direxion Daily TSLA Bull 2X Shares Trading Down 3.2 %

The stock has a fifty day simple moving average of $14.46 and a 200-day simple moving average of $11.47. The company has a market capitalization of $3.82 billion, a PE ratio of 40.38 and a beta of -5.14.

Direxion Daily TSLA Bull 2X Shares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 24th were paid a dividend of $0.0803 per share. This is a boost from Direxion Daily TSLA Bull 2X Shares’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a $0.32 annualized dividend and a yield of 1.61%.

Institutional Trading of Direxion Daily TSLA Bull 2X Shares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Citigroup Inc. acquired a new position in shares of Direxion Daily TSLA Bull 2X Shares in the 3rd quarter valued at $51,145,000. TB Alternative Assets Ltd. acquired a new position in Direxion Daily TSLA Bull 2X Shares in the third quarter valued at $2,794,000. Scientech Research LLC purchased a new position in shares of Direxion Daily TSLA Bull 2X Shares during the second quarter worth about $869,000. Virtu Financial LLC purchased a new position in shares of Direxion Daily TSLA Bull 2X Shares during the first quarter worth about $522,000. Finally, Traynor Capital Management Inc. increased its position in shares of Direxion Daily TSLA Bull 2X Shares by 14.4% during the second quarter. Traynor Capital Management Inc. now owns 437,878 shares of the company’s stock worth $4,028,000 after purchasing an additional 55,194 shares in the last quarter.

About Direxion Daily TSLA Bull 2X Shares