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

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

Direxion Daily TSLA Bear 1X Shares Stock Performance

TSLS stock opened at $5.44 on Tuesday. Direxion Daily TSLA Bear 1X Shares has a 52 week low of $4.62 and a 52 week high of $13.88. The company’s 50-day simple moving average is $5.16 and its 200 day simple moving average is $5.74.

Direxion Daily TSLA Bear 1X Shares Increases Dividend

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

Institutional Investors Weigh In On Direxion Daily TSLA Bear 1X Shares

A number of large investors have recently added to or reduced their stakes in TSLS. Simplex Trading LLC acquired a new position in Direxion Daily TSLA Bear 1X Shares in the 2nd quarter valued at $47,000. SBI Securities Co. Ltd. increased its position in shares of Direxion Daily TSLA Bear 1X Shares by 1,020.7% in the second quarter. SBI Securities Co. Ltd. now owns 12,541 shares of the company’s stock worth $98,000 after purchasing an additional 11,422 shares during the period. Optiver Holding B.V. acquired a new position in Direxion Daily TSLA Bear 1X Shares in the third quarter valued at about $81,000. PayPay Securities Corp raised its stake in Direxion Daily TSLA Bear 1X Shares by 103.6% in the fourth quarter. PayPay Securities Corp now owns 15,254 shares of the company’s stock valued at $77,000 after purchasing an additional 7,762 shares in the last quarter. Finally, Journey Advisory Group LLC bought a new stake in Direxion Daily TSLA Bear 1X Shares during the third quarter worth about $116,000.

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.