Short Interest in Direxion Daily TSLA Bear 1X Shares (NASDAQ:TSLS) Drops By 39.4%

Direxion Daily TSLA Bear 1X Shares (NASDAQ:TSLS) was the recipient of a significant decline in short interest during the month of February. As of February 13th, there was short interest totaling 994,932 shares, a decline of 39.4% from the January 29th total of 1,641,008 shares. Approximately 7.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 68,427,331 shares, the days-to-cover ratio is presently 0.0 days. Based on an average daily trading volume, of 68,427,331 shares, the days-to-cover ratio is presently 0.0 days. Approximately 7.1% of the shares of the stock are short sold.

Direxion Daily TSLA Bear 1X Shares Trading Up 1.6%

Shares of NASDAQ:TSLS opened at $5.64 on Friday. The stock has a fifty day moving average of $5.26 and a 200-day moving average of $5.63. Direxion Daily TSLA Bear 1X Shares has a one year low of $4.62 and a one year high of $13.88.

Shares of Direxion Daily TSLA Bear 1X Shares are going 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 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Tuesday, December 23rd were given a $0.0495 dividend. This is a positive change from Direxion Daily TSLA Bear 1X Shares’s previous quarterly dividend of $0.04. The ex-dividend date was Tuesday, December 23rd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.5%.

Institutional Trading of Direxion Daily TSLA Bear 1X Shares

A number of hedge funds have recently bought and sold shares of TSLS. Simplex Trading LLC acquired a new position in shares of Direxion Daily TSLA Bear 1X Shares in the second quarter worth about $47,000. SBI Securities Co. Ltd. lifted its position in shares of Direxion Daily TSLA Bear 1X Shares by 1,020.7% in the 2nd quarter. SBI Securities Co. Ltd. now owns 12,541 shares of the company’s stock valued at $98,000 after acquiring an additional 11,422 shares in the last quarter. StoneX Group Inc. boosted its stake in Direxion Daily TSLA Bear 1X Shares by 265.9% in the 2nd quarter. StoneX Group Inc. now owns 61,950 shares of the company’s stock worth $486,000 after purchasing an additional 45,021 shares during the period. Group One Trading LLC boosted its stake in Direxion Daily TSLA Bear 1X Shares by 711.2% in the 2nd quarter. Group One Trading LLC now owns 39,628 shares of the company’s stock worth $311,000 after purchasing an additional 34,743 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in Direxion Daily TSLA Bear 1X Shares by 207.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 138,578 shares of the company’s stock worth $1,086,000 after purchasing an additional 93,459 shares in the last quarter.

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.