Direxion Daily TSLA Bear 1X Shares (NASDAQ:TSLS) Shares Down 3.5% – Time to Sell?

Shares of Direxion Daily TSLA Bear 1X Shares (NASDAQ:TSLS) fell 3.5% during trading on Monday . The stock traded as low as $58.60 and last traded at $59.36. 613,051 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 5,501,545 shares. The stock had previously closed at $61.50.

Direxion Daily TSLA Bear 1X Shares Stock Down 3.5%

The firm’s 50 day simple moving average is $54.70 and its two-hundred day simple moving average is $54.87.

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

Hedge funds and other institutional investors have recently made changes to their positions in the business. PayPay Securities Corp grew its position in Direxion Daily TSLA Bear 1X Shares by 103.6% during the fourth quarter. PayPay Securities Corp now owns 15,254 shares of the company’s stock worth $77,000 after buying an additional 7,762 shares in the last quarter. Optiver Holding B.V. acquired a new position in Direxion Daily TSLA Bear 1X Shares in the 3rd quarter valued at $81,000. SBI Securities Co. Ltd. raised its holdings in Direxion Daily TSLA Bear 1X Shares by 21.6% in 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 shares of Direxion Daily TSLA Bear 1X Shares during the 4th quarter valued at $87,000. Finally, Journey Advisory Group LLC bought a new stake in shares of Direxion Daily TSLA Bear 1X Shares during the 3rd quarter valued at $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.