Direxion Daily TSLA Bear 1X Shares (NASDAQ:TSLS) Sees Significant Decline in Short Interest

Direxion Daily TSLA Bear 1X Shares (NASDAQ:TSLS) was the target of a significant decline in short interest in the month of March. As of March 31st, there was short interest totaling 54,401 shares, a decline of 30.3% from the March 15th total of 78,106 shares. Based on an average daily volume of 530,331 shares, the short-interest ratio is currently 0.1 days. Approximately 4.5% of the shares of the company are sold short.

Direxion Daily TSLA Bear 1X Shares Price Performance

Shares of NASDAQ:TSLS traded down $4.44 during mid-day trading on Wednesday, reaching $56.91. The stock had a trading volume of 1,204,162 shares, compared to its average volume of 4,457,616. Direxion Daily TSLA Bear 1X Shares has a 1 year low of $46.20 and a 1 year high of $119.70. The business’s 50 day moving average price is $57.85 and its 200 day moving average price is $54.52.

Direxion Daily TSLA Bear 1X Shares Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th were given a dividend of $0.338 per share. The ex-dividend date was Tuesday, March 24th. This represents a $1.35 dividend on an annualized basis and a yield of 2.4%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TSLS. PayPay Securities Corp boosted its position in Direxion Daily TSLA Bear 1X Shares by 103.6% during the 4th quarter. PayPay Securities Corp now owns 15,254 shares of the company’s stock valued at $77,000 after acquiring an additional 7,762 shares in the last quarter. Optiver Holding B.V. bought a new stake in Direxion Daily TSLA Bear 1X Shares during the 3rd quarter valued at $81,000. SBI Securities Co. Ltd. boosted its position in Direxion Daily TSLA Bear 1X Shares by 21.6% during the 3rd quarter. SBI Securities Co. Ltd. now owns 15,255 shares of the company’s stock valued at $82,000 after acquiring an additional 2,714 shares in the last quarter. SHP Wealth Management bought a new stake in Direxion Daily TSLA Bear 1X Shares during the 4th quarter valued at $87,000. Finally, Journey Advisory Group LLC bought a new stake in Direxion Daily TSLA Bear 1X Shares during the 3rd quarter valued at $116,000.

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.