Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) Sees Unusually-High Trading Volume - Should You Buy?

The Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) experienced a significant increase in trading activity on Monday, with a total of 38,667,719 shares changing hands. This marked a 6% rise from the previous day's volume, which stood at 36,471,043 shares. At the close of trading, the stock was priced at $14.09, up from its previous close of $13.80.

Stock Performance of Direxion Daily TSLA Bull 2X Shares

The stock's performance can be assessed using its moving averages. The 50-day simple moving average currently sits at $10.88, while the 200-day simple moving average is at $9.77. Direxion Daily TSLA Bull 2X Shares holds a market capitalization of $2.80 billion, with a price-to-earnings (PE) ratio of 40.38. Additionally, the stock has a beta of -5.14, indicating its volatility in relation to the broader market.

Dividend Announcement

Recently, Direxion Daily TSLA Bull 2X Shares announced an increase in its quarterly dividends, which were paid out on October 1st. Shareholders on record as of September 24th received a dividend of $0.0803. On an annualized basis, this equates to a total dividend of $0.32, resulting in a yield of 2.34%. This new dividend represents an increase from the prior quarterly distribution of $0.08.

Institutional Investor Activity

Interest from institutional investors regarding Direxion Daily TSLA Bull 2X Shares has also been notable. Several firms have recently adjusted their positions. For instance, Headlands Technologies LLC acquired a new stake valued at around $54,000 in the first quarter. Beacon Capital Management LLC also entered a new position worth approximately $120,000 during the second quarter. AE Wealth Management LLC increased its holdings by 16.0%, bringing their total to 14,476 shares valued at $133,000. Likewise, B. Riley Wealth Advisors Inc. invested around $213,000 in this stock during the second quarter. Finally, Sloy Dahl & Holst LLC made a purchase worth $223,000 in the first quarter.

Understanding Your Investment

Before considering an investment in Direxion Daily TSLA Bull 2X Shares, potential investors may wish to perform additional research. Current market sentiment suggests a "hold" rating for TSLL among analysts. In fact, some experts have flagged five stocks that they believe present better investment opportunities than Direxion Daily TSLA Bull 2X Shares.

For those looking for guidance on strong retirement stocks, there are resources available. Investors can access lists of recommended stocks to consider for their portfolios.

TSLA, Dividends, Investing