Direxion Daily TSM Bull 2X Shares (NASDAQ:TSMX) Trading Down 6.8% – Time to Sell?

Direxion Daily TSM Bull 2X Shares (NASDAQ:TSMX)’s share price were down 6.8% during trading on Wednesday . The company traded as low as $79.60 and last traded at $80.95. Approximately 749,469 shares were traded during trading, a decline of 18% from the average daily volume of 919,570 shares. The stock had previously closed at $86.89.

Direxion Daily TSM Bull 2X Shares Stock Down 6.4%

The firm has a market cap of $577.73 million, a P/E ratio of -3.77 and a beta of 3.19. The business has a fifty day moving average of $75.10 and a 200 day moving average of $63.48.

Direxion Daily TSM Bull 2X Shares Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th were paid a $0.2398 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Tuesday, March 24th. Direxion Daily TSM Bull 2X Shares’s payout ratio is -18.83%.

Institutional Trading of Direxion Daily TSM Bull 2X Shares

Several institutional investors have recently modified their holdings of TSMX. SG Americas Securities LLC boosted its position in Direxion Daily TSM Bull 2X Shares by 633.5% during the fourth quarter. SG Americas Securities LLC now owns 131,300 shares of the company’s stock valued at $6,484,000 after acquiring an additional 113,400 shares during the last quarter. Cibc World Market Inc. purchased a new position in Direxion Daily TSM Bull 2X Shares in the 3rd quarter worth $892,000. Jane Street Group LLC raised its position in Direxion Daily TSM Bull 2X Shares by 1.4% in the 4th quarter. Jane Street Group LLC now owns 11,259 shares of the company’s stock worth $556,000 after purchasing an additional 159 shares during the period. HRT Financial LP purchased a new position in Direxion Daily TSM Bull 2X Shares in the 4th quarter worth $216,000. Finally, Tower Research Capital LLC TRC raised its position in Direxion Daily TSM Bull 2X Shares by 85.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,788 shares of the company’s stock worth $123,000 after purchasing an additional 1,743 shares during the period.

About Direxion Daily TSM Bull 2X Shares

The Direxion Daily TSM Bull 2X Shares (TSMX) is an exchange-traded fund that mostly invests in information technology equity. The fund provides 2x leveraged exposure, less fees and expenses, to the daily price movement for shares of Taiwan Semiconductor Manufacturing (TSM) stock. TSMX was launched on Oct 3, 2024 and is issued by Direxion.