Direxion Daily TSLA Bull 2X ETF (NASDAQ:TSLL) Shares Gap Down – Here’s Why

Direxion Daily TSLA Bull 2X ETF (NASDAQ:TSLL)’s stock price gapped down prior to trading on Wednesday. The stock had previously closed at $11.07, but opened at $10.06. Direxion Daily TSLA Bull 2X ETF shares last traded at $10.4470, with a volume of 20,780,627 shares trading hands.

Direxion Daily TSLA Bull 2X ETF Stock Performance

The company has a market capitalization of $3.54 billion, a PE ratio of 88.55 and a beta of 2.85. The firm’s 50-day simple moving average is $9.90 and its 200 day simple moving average is $12.29.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TSLL. Renaissance Technologies LLC boosted its stake in 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 acquiring an additional 2,111,700 shares during the period. Turner Financial Group Inc. acquired a new position in Direxion Daily TSLA Bull 2X ETF during the second quarter worth about $3,646,000. StoneX Group Inc. bought a new stake in shares of Direxion Daily TSLA Bull 2X ETF in the 3rd quarter worth approximately $1,883,000. Royal Bank of Canada boosted its stake in shares of Direxion Daily TSLA Bull 2X ETF by 36,531.8% during the 1st quarter. Royal Bank of Canada now owns 102,569 shares of the company’s stock worth $1,246,000 after acquiring an additional 102,289 shares in the last quarter. Finally, Dakota Community Bank & Trust NA increased its stake in Direxion Daily TSLA Bull 2X ETF by 628.1% in the 3rd 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.

Direxion Daily TSLA Bull 2X ETF Company Profile

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.