Direxion Daily TSM Bull 2X Shares (NASDAQ:TSMX) Sees Large Volume Increase - Should You Buy?

Key Points

• 543,775 shares traded on Tuesday (down 36% from the prior session) and the fund's price fell 6.7% to $75.82 from $80.40.
• TSMX is a 2x leveraged ETF providing daily exposure to Taiwan Semiconductor (TSM), launched Oct 3, 2024, with a market cap of $516 million and elevated volatility (beta 3.54).
• The fund recently paid a quarterly dividend of $0.2398 (annualized $0.96, 1.3% yield), and several institutional investors including Jane Street, SBI Securities and Tower Research have recently increased or initiated stakes.

Direxion Daily TSM Bull 2X Shares (NASDAQ:TSMX - ) saw strong trading volume on Tuesday . 543,775 shares traded hands during mid-day trading, a decline of 36% from the previous session's volume of 852,618 shares.The stock last traded at $75.82 and had previously closed at $80.40.

Direxion Daily TSM Bull 2X Shares Trading Down 6.7%

The business's 50-day moving average price is $64.56 and its 200-day moving average price is $57.08. The stock has a market cap of $516 million, a PE ratio of -3.48 and a beta of 3.54.

Direxion Daily TSM Bull 2X Shares Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th were issued a $0.2398 dividend. 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 1.3%. Direxion Daily TSM Bull 2X Shares's dividend payout ratio is currently -18.83%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TSMX. Jane Street Group LLC boosted its holdings in Direxion Daily TSM Bull 2X Shares by 1.4% in the fourth quarter. Jane Street Group LLC now owns 11,259 shares of the company's stock valued at $556,000 after purchasing an additional 159 shares during the last quarter. SBI Securities Co. Ltd. grew its holdings 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 acquiring an additional 798 shares during the period. Tower Research Capital LLC TRC grew its holdings 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 acquiring an additional 1,743 shares during the period. HRT Financial LP acquired a new stake in Direxion Daily TSM Bull 2X Shares during the fourth quarter worth about $216,000. Finally, SG Americas Securities LLC acquired a new stake in Direxion Daily TSM Bull 2X Shares during the third quarter worth about $842,000.

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.

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