Direxion Daily TSLA Bear 1X Shares (NASDAQ:TSLS) Short Interest Down 65.9% in May

Direxion Daily TSLA Bear 1X Shares (NASDAQ:TSLS) was the target of a large drop in short interest in the month of May. As of May 31st, there was short interest totalling 341,300 shares, a drop of 65.9% from the May 15th total of 1,000,000 shares. Currently, 4.0% of the company’s stock are sold short. Based on an average daily trading volume, of 14,944,500 shares, the days-to-cover ratio is currently 0.0 days.

Direxion Daily TSLA Bear 1X Shares Trading Down 1.9%

Shares of NASDAQ:TSLS opened at $7.76 on Friday. Direxion Daily TSLA Bear 1X Shares has a one year low of $6.82 and a one year high of $23.78. The business’s 50-day simple moving average is $8.95 and its 200 day simple moving average is $9.22.

Direxion Daily TSLA Bear 1X Shares Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 25th were issued a dividend of $0.0756 per share. The ex-dividend date was Tuesday, March 25th. This represents a $0.30 annualized dividend and a dividend yield of 3.89%.

Institutional Investors Weigh In On Direxion Daily TSLA Bear 1X Shares

Several hedge funds have recently modified their holdings of TSLS. SBI Securities Co. Ltd. acquired a new stake in Direxion Daily TSLA Bear 1X Shares during the 4th quarter valued at approximately $247,000. Virtu Financial LLC acquired a new stake in Direxion Daily TSLA Bear 1X Shares during the 4th quarter valued at approximately $2,009,000. Jump Financial LLC acquired a new stake in Direxion Daily TSLA Bear 1X Shares during the 4th quarter valued at approximately $563,000. Advisory Services Network LLC acquired a new stake in Direxion Daily TSLA Bear 1X Shares during the 4th quarter valued at approximately $1,423,000. Finally, GTS Securities LLC acquired a new stake in Direxion Daily TSLA Bear 1X Shares during the 4th quarter valued at approximately $468,000.

Direxion Daily TSLA Bear 1X Shares Company Profile

The Direxion Daily TSLA Bear 1X Shares (TSLS) is an exchange-traded fund that is based on the Tesla, Inc index. The fund provides inverse (-1x) exposure, less fees and expenses, to the daily price movement for shares of Tesla stock. TSLS was launched on Aug 9, 2022 and is managed by Direxion.