Significant Rise in Short Interest for Direxion Daily TSLA Bull 2X Shares

In October, the Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL - Get Free Report) experienced a notable rise in short interest. By October 15th, the short interest had climbed to 45,750,000 shares, marking a 49.0% increase from the 30,700,000 shares reported on September 30th. With an average daily trading volume of 51,280,800 shares, the current short-interest ratio stands at 0.9 days.

Changes in Institutional Investments

Recently, a number of hedge funds and institutional investors have adjusted their holdings of TSLL. TRUE Private Wealth Advisors enhanced its investment in the Direxion Daily TSLA Bull 2X Shares by 2.7% during the second quarter, owning 43,842 shares valued at $403,000 after acquiring an additional 1,142 shares. AE Wealth Management LLC increased its position in TSLL by 16.0% in the same quarter, bringing its total to 14,476 shares valued at $133,000 following the purchase of another 2,000 shares. Additionally, Headlands Technologies LLC initiated a new position during the first quarter worth $54,000. B. Riley Wealth Advisors Inc. also purchased a new stake in TSLL during the fourth quarter, worth $144,000. Furthermore, Beacon Capital Management LLC invested in a new position in the second quarter valued at $120,000.

Performance of Direxion Daily TSLA Bull 2X Shares

On Monday, the Direxion Daily TSLA Bull 2X Shares saw a decrease of 4.9%, trading down $0.67 to reach $13.13. The volume of shares exchanged was 81,208,668, significantly higher than its average volume of 36,680,324. Over the past year, the stock has fluctuated, with a low of $4.94 and a high of $16.85. It currently holds a market capitalization of $2.67 billion, a P/E ratio of 40.38, and a beta of -5.14.

Dividend Announcement

Recently, the company declared a quarterly dividend, which was paid on October 1st. Shareholders on record as of September 24th received a dividend of $0.0803 per share, equating to an annualized amount of $0.32 and a yield of 2.45%. This represents an increase from the previous quarterly dividend of $0.08.

Company Overview

Direxion Daily TSLA Bull 2X Shares is known for its aggressive investment strategy focused on tracking the performance of Tesla stock, providing investors with amplified exposure to the movement of TSLA.

Investment Considerations

Before investing in Direxion Daily TSLA Bull 2X Shares, it's essential to evaluate your options. Analysts recommend various stocks that may offer better investment potential. Currently, while TSLL holds a "hold" rating, there are several other stocks highlighted by analysts as worthwhile considerations.

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