TSLL, KMLI: Big ETF Outflows

Data from ETF Channel indicates significant weekly outflows across major leveraged single-stock exchange-traded funds. The Direxion Daily TSLA Bull 2X ETF (TSLL) recorded the largest nominal unit reduction in the coverage universe, with 18,875,000 units destroyed over the week. This contraction represents a 4.8% decrease in total shares outstanding for the leveraged Tesla vehicle, signaling potential profit-taking or reduced bullish leverage among short-term traders. Despite the heavy redemption activity in TSLL, underlying shares of Tesla Inc. (TSLA) displayed positive momentum, trading up approximately 2.9% in morning trading. Meanwhile, on a percentage change basis, the KraneShares 2x Long MELI Daily ETF (KMLI) experienced the sharpest decline in the ETF universe, losing 350,000 units, which represents a substantial 38.9% week-over-week drop in outstanding units. These sizable outflows in single-stock leveraged funds highlight rapid repositioning and risk mitigation strategies among active market participants, even as underlying equity prices attempt to sustain upward intraday trajectories.