Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) Trading 6.5% Higher - Should You Buy?

The share price of Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) increased by 6.5% in trading on Friday. The stock reached a peak of $13.42 during the day and settled at $13.29. A total of approximately 78,653,767 shares changed hands, representing a 6% rise compared to the average daily volume of 74,365,953 shares. The previous close for the stock was $12.47.

Stock Performance Overview

Currently, the stock possesses a fifty-day simple moving average of $25.05 and a two-hundred-day simple moving average of $18.76. It holds a market capitalization of $2.60 billion with a price-to-earnings (PE) ratio of 38.91 and a beta of -5.14, indicating its volatility compared to the overall market.

Dividend Announcement

Recently, the company announced a dividend payment which was issued on Tuesday, December 31st. Stockholders with records dated Monday, December 23rd were granted a dividend of $0.1399. The ex-dividend date also fell on Monday, December 23rd.

Institutional Investors' Activity

Various hedge funds and institutional investors have been active regarding their holdings in Direxion Daily TSLA Bull 2X Shares. For instance, Sanctuary Advisors LLC increased its stake by 13.7% in the fourth quarter, bringing its total to 12,500 shares valued at $327,000 after acquiring an additional 1,505 shares. In the same quarter, PayPay Securities Corp initiated a new position worth about $50,000 in TSLL. TRUE Private Wealth Advisors also raised its holdings by 5.0%, now owning 46,046 shares after purchasing an extra 2,204 shares in the last quarter. Captrust Financial Advisors boosted its stake by 7.3%, now holding 47,753 shares valued at $660,000 after an increase of 3,246 shares. Finally, Tower Research Capital LLC TRC grew its investment in TSLL by 13.9% during the fourth quarter, with a total of 26,926 shares valued at $741,000.

About Direxion Daily TSLA Bull 2X Shares

This exchange-traded fund aims to provide twice the daily return of Tesla, Inc. (NASDAQ: TSLA). Investors seek these types of funds to gain leveraged exposure to the performance of the underlying stock. However, it’s essential to be aware of the risks associated with such investments.

Investment Consideration

If you're contemplating investing $1,000 into Direxion Daily TSLA Bull 2X Shares, it's good to look at the current ratings. The stock currently holds a Hold rating among analysts. However, market experts have identified five alternative stocks that they consider better investment opportunities at this time.

Investors should carefully evaluate their options and consider diversifying their portfolio to achieve better risk management in today's volatile market.

In conclusion, while TSLL has seen a noteworthy increase in share price, individual investors should consider their financial circumstances and market conditions before making any investment decisions.

Direxion, TSLA, Stock