Direxion Daily TSM Bull 2X Shares (NASDAQ:TSMX) Trading Up 10% – Here’s Why

Direxion Daily TSM Bull 2X Shares (NASDAQ:TSMX)’s stock price traded up 10% on Monday . The stock traded as high as $93.01 and last traded at $92.42. 571,036 shares traded hands during mid-day trading, a decline of 37% from the average session volume of 908,743 shares. The stock had previously closed at $84.05.

Direxion Daily TSM Bull 2X Shares Price Performance

The firm’s 50 day moving average is $70.62 and its two-hundred day moving average is $61.42. The firm has a market capitalization of $661.51 million, a P/E ratio of -4.32 and a beta of 3.33.

Direxion Daily TSM Bull 2X Shares Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th were given a dividend of $0.2398 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Tuesday, March 24th. Direxion Daily TSM Bull 2X Shares’s payout ratio is -18.83%.

Hedge Funds Weigh In On Direxion Daily TSM Bull 2X Shares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TSMX. SBI Securities Co. Ltd. boosted its position in Direxion Daily TSM Bull 2X Shares by 72.2% during the third quarter. SBI Securities Co. Ltd. now owns 1,904 shares of the company’s stock worth $90,000 after purchasing an additional 798 shares during the period. Tower Research Capital LLC TRC boosted its position in Direxion Daily TSM Bull 2X Shares by 85.2% during the second 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. HRT Financial LP bought a new position in Direxion Daily TSM Bull 2X Shares during the fourth quarter worth $216,000. Jane Street Group LLC bought a new position in Direxion Daily TSM Bull 2X Shares during the first quarter worth $543,000. Finally, Cibc World Market Inc. bought a new position in Direxion Daily TSM Bull 2X Shares during the third quarter worth $892,000.

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.