Direxion Daily TSM Bull 2X Shares (NASDAQ:TSMX) Trading 9.8% Higher – Still a Buy?

Direxion Daily TSM Bull 2X Shares (NASDAQ:TSMX)’s stock price traded up 9.8% during mid-day trading on Thursday . The company traded as high as $96.91 and last traded at $96.74. 490,631 shares changed hands during mid-day trading, a decline of 46% from the average session volume of 910,738 shares. The stock had previously closed at $88.09.

Direxion Daily TSM Bull 2X Shares Stock Performance

The firm has a market cap of $711.70 million, a price-to-earnings ratio of -4.65 and a beta of 3.19. The business’s 50 day moving average price is $80.11 and its 200 day moving average price is $65.74.

Direxion Daily TSM Bull 2X Shares Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th were issued 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 yield of 1.0%. Direxion Daily TSM Bull 2X Shares’s dividend payout ratio is -18.83%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its stake in shares of Direxion Daily TSM Bull 2X Shares by 633.5% during the 4th quarter. SG Americas Securities LLC now owns 131,300 shares of the company’s stock worth $6,484,000 after acquiring an additional 113,400 shares in the last quarter. Jane Street Group LLC increased its stake in shares of Direxion Daily TSM Bull 2X Shares by 101.0% in the 2nd quarter. Jane Street Group LLC now owns 57,487 shares of the company’s stock valued at $1,865,000 after purchasing an additional 28,888 shares in the last quarter. HRT Financial LP acquired a new position in Direxion Daily TSM Bull 2X Shares in the 4th quarter worth about $216,000. Finally, Tower Research Capital LLC TRC raised its holdings 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.