Direxion Daily TSM Bull 2X Shares (NASDAQ:TSMX) Stock Price Up 7.8% – Should You Buy?

Shares of Direxion Daily TSM Bull 2X Shares (NASDAQ:TSMX) rose 7.8% on Monday . The company traded as high as $88.57 and last traded at $88.00. Approximately 352,168 shares changed hands during trading, a decline of 61% from the average daily volume of 912,034 shares. The stock had previously closed at $81.65.

Direxion Daily TSM Bull 2X Shares Price Performance

The firm has a market cap of $616.92 million, a price-to-earnings ratio of -4.03 and a beta of 3.19. The business’s 50-day moving average price is $75.10 and its two-hundred day moving average price is $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. Stockholders of record on Tuesday, March 24th were given a dividend of $0.2398 per share. The ex-dividend date of this dividend was Tuesday, March 24th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.1%. Direxion Daily TSM Bull 2X Shares’s dividend payout ratio (DPR) is presently -18.83%.

Institutional Trading of Direxion Daily TSM Bull 2X Shares

Hedge funds have recently made changes to their positions in the stock. SBI Securities Co. Ltd. lifted its stake 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 last quarter. Tower Research Capital LLC TRC lifted its stake 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 last quarter. 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 lifted its stake in Direxion Daily TSM Bull 2X Shares by 1.4% during the fourth 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 last quarter. 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.