Direxion Daily TSLA Bear 1X Shares (NASDAQ:TSLS) Shares Set to Reverse Split on Thursday, March 5th

Shares of Direxion Daily TSLA Bear 1X Shares (NASDAQ:TSLS) are scheduled to reverse split on Thursday, March 5th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, March 4th.

Direxion Daily TSLA Bear 1X Shares Price Performance

NASDAQ TSLS opened at $5.44 on Tuesday. The firm’s fifty day moving average price is $5.16 and its two-hundred day moving average price is $5.74. Direxion Daily TSLA Bear 1X Shares has a fifty-two week low of $4.62 and a fifty-two week high of $13.88.

Direxion Daily TSLA Bear 1X Shares Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Tuesday, December 23rd were issued a dividend of $0.0495 per share. This is a positive change from Direxion Daily TSLA Bear 1X Shares’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Tuesday, December 23rd. This represents a $0.20 annualized dividend and a dividend yield of 3.6%.

Hedge Funds Weigh In On Direxion Daily TSLA Bear 1X Shares

Several large investors have recently bought and sold shares of TSLS. Headlands Technologies LLC boosted its stake in shares of Direxion Daily TSLA Bear 1X Shares by 1,229.8% during the fourth quarter. Headlands Technologies LLC now owns 481,884 shares of the company’s stock valued at $2,443,000 after purchasing an additional 445,646 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Direxion Daily TSLA Bear 1X Shares during the 4th quarter worth approximately $2,156,000. PayPay Securities Corp grew its holdings 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 worth $77,000 after acquiring an additional 7,762 shares during the last quarter. Ridgecrest Wealth Partners LLC grew its holdings in Direxion Daily TSLA Bear 1X Shares by 64.6% during the 4th quarter. Ridgecrest Wealth Partners LLC now owns 39,485 shares of the company’s stock worth $200,000 after acquiring an additional 15,500 shares during the last quarter. Finally, Flow Traders U.S. LLC acquired a new position in Direxion Daily TSLA Bear 1X Shares in the 3rd quarter valued at approximately $867,000.

About Direxion Daily TSLA Bear 1X Shares

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.