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

Shares of Direxion Daily TSLA Bull 2X Shares (NASDAQ:TSLL) experienced a notable increase of 6.5% during trading on Friday. The stock reached a high of $13.42 before closing at $13.29. In total, around 78,653,767 shares were exchanged, representing a 6% rise from the average daily volume of 74,365,953 shares. Previously, the stock had closed at $12.47.

Performance of Direxion Daily TSLA Bull 2X Shares

Over the past few months, the stock has shown varying patterns, with a fifty-day simple moving average standing at $25.05 and a two-hundred-day simple moving average at $18.76. Direxion Daily TSLA Bull 2X Shares has a market capitalization of $2.60 billion, with a price-to-earnings (P/E) ratio of 38.91 and a beta of -5.14, indicating a high level of volatility compared to the market.

Dividend Announcement by Direxion Daily TSLA Bull 2X Shares

Recently, the company announced a dividend payment, which was processed on Tuesday, December 31st. Shareholders who were on record as of Monday, December 23rd, received a dividend of $0.1399. The ex-dividend date was also set for December 23rd.

Institutional Interest in Direxion Daily TSLA Bull 2X Shares

Various institutional investors have made moves regarding their holdings in TSLL. Sanctuary Advisors LLC increased its stake in the shares by 13.7% during the last quarter, accumulating a total of 12,500 shares valued at approximately $327,000. PayPay Securities Corp entered into a new position in the stock during the same period, investing around $50,000. Additionally, TRUE Private Wealth Advisors grew its holdings by 5.0%, owning 46,046 shares currently valued at $636,000 after buying 2,204 more shares. Captrust Financial Advisors also boosted its position in TSLL by 7.3%, possessing 47,753 shares valued at $660,000 following their purchase of an additional 3,246 shares. Lastly, Tower Research Capital LLC TRC increased its stake by 13.9%, now holding 26,926 shares worth $741,000 after acquiring 3,294 more shares.

Evaluating Investment in Direxion Daily TSLA Bull 2X Shares

If you're considering investing $1,000 in Direxion Daily TSLA Bull 2X Shares, it might be wise to carefully assess your options. Currently, analysts have given the stock a 'Hold' rating. Some experts have identified better investment opportunities and highlighted five stocks that they recommend over TSLL. Investors might want to consider these alternatives before making a decision.

Stocks, ETFs, Investment