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

Direxion Daily TSLA Bear 1X Shares (NASDAQ:TSLS) was the recipient of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 280,000 shares, a drop of 25.0% from the August 15th total of 373,100 shares. Based on an average daily volume of 2,793,700 shares, the days-to-cover ratio is currently 0.1 days.

Direxion Daily TSLA Bear 1X Shares Price Performance

Shares of TSLS stock opened at $16.68 on Monday. The business’s 50-day moving average price is $17.72 and its 200-day moving average price is $22.08. Direxion Daily TSLA Bear 1X Shares has a 12 month low of $15.08 and a 12 month high of $31.83.

Direxion Daily TSLA Bear 1X Shares Cuts Dividend

The firm also recently announced a dividend, which was paid on Tuesday, July 2nd. Investors of record on Tuesday, June 25th were paid a dividend of $0.1681 per share. The ex-dividend date of this dividend was Tuesday, June 25th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of TSLS. Virtu Financial LLC grew its stake in shares of Direxion Daily TSLA Bear 1X Shares by 728.1% in the 4th quarter. Virtu Financial LLC now owns 188,816 shares of the company’s stock valued at $3,552,000 after buying an additional 166,015 shares during the period. IMC Chicago LLC increased its holdings in shares of Direxion Daily TSLA Bear 1X Shares by 223.5% during the fourth quarter. IMC Chicago LLC now owns 170,608 shares of the company’s stock valued at $3,209,000 after acquiring an additional 117,867 shares in the last quarter. Wakefield Asset Management LLLP acquired a new position in shares of Direxion Daily TSLA Bear 1X Shares during the first quarter valued at about $628,000. Jump Financial LLC acquired a new position in Direxion Daily TSLA Bear 1X Shares during the 4th quarter valued at about $303,000. Finally, Private Advisor Group LLC purchased a new position in shares of Direxion Daily TSLA Bear 1X Shares during the fourth quarter valued at approximately $202,000.

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.