Direxion Daily TSLA Bull 2X ETF (NASDAQ:TSLL) Shares Break Below 50-Day Moving Average – Time to Sell?

Direxion Daily TSLA Bull 2X ETF (NASDAQ:TSLL)’s stock price crossed below its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $9.91 and traded as low as $7.83. Direxion Daily TSLA Bull 2X ETF shares last traded at $8.10, with a volume of 74,818,379 shares.

Direxion Daily TSLA Bull 2X ETF Stock Performance

The company’s fifty day simple moving average is $9.91 and its 200-day simple moving average is $12.20. The company has a market capitalization of $2.66 billion, a P/E ratio of 88.55 and a beta of 2.77.

Institutional Investors Weigh In On Direxion Daily TSLA Bull 2X ETF

Hedge funds have recently modified their holdings of the business. 180 Wealth Advisors LLC increased its holdings in Direxion Daily TSLA Bull 2X ETF by 12.5% during the third quarter. 180 Wealth Advisors LLC now owns 26,062 shares of the company’s stock valued at $235,000 after buying an additional 2,906 shares during the period. StoneX Group Inc. bought a new position in Direxion Daily TSLA Bull 2X ETF in the third quarter worth approximately $1,883,000. Parallel Advisors LLC raised its stake in Direxion Daily TSLA Bull 2X ETF by 18.8% in the third quarter. Parallel Advisors LLC now owns 8,193 shares of the company’s stock worth $74,000 after buying an additional 1,298 shares in the last quarter. PayPay Securities Corp lifted its holdings in Direxion Daily TSLA Bull 2X ETF by 57.4% during the third quarter. PayPay Securities Corp now owns 2,850 shares of the company’s stock worth $26,000 after buying an additional 1,039 shares during the period. Finally, James J. Burns & Company LLC purchased a new stake in Direxion Daily TSLA Bull 2X ETF during the third quarter worth $98,000.

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.