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

Key Points

• TSMX saw unusually strong trading volume of about 762,620 shares and the price jumped to $82.42 from the prior close of $75.88.
• The fund is a 2x leveraged ETF providing daily exposure to Taiwan Semiconductor (TSM), launched Oct 3, 2024, and carries high volatility (beta 3.34) with a market cap around $607.5 million.
• Direxion paid a quarterly dividend of $0.2398 (annualized $0.96, yield ~1.1%), and several hedge funds and trading firms (including Jane Street and SG Americas) have recently built or increased positions.

Direxion Daily TSM Bull 2X Shares (NASDAQ:TSMX - ) shares saw unusually-strong trading volume on Wednesday . Approximately 762,620 shares changed hands during trading, a decline of 12% from the previous session's volume of 867,666 shares.The stock last traded at $82.42 and had previously closed at $75.88.

Direxion Daily TSM Bull 2X Shares Price Performance

The company's 50-day simple moving average is $65.13 and its 200-day simple moving average is $57.75. The stock has a market capitalization of $607.48 million, a price-to-earnings ratio of -3.97 and a beta of 3.34.

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. The ex-dividend date was Tuesday, March 24th. This represents a $0.96 annualized dividend and a yield of 1.1%. Direxion Daily TSM Bull 2X Shares's dividend payout ratio (DPR) is -18.83%.

Institutional Investors Weigh In On Direxion Daily TSM Bull 2X Shares

Hedge funds have recently bought and sold shares of the stock. SBI Securities Co. Ltd. lifted 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 acquiring an additional 798 shares during the last quarter. Tower Research Capital LLC TRC lifted 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 acquiring an additional 1,743 shares during the last quarter. HRT Financial LP acquired a new stake in Direxion Daily TSM Bull 2X Shares during the fourth quarter worth approximately $216,000. Jane Street Group LLC acquired a new stake in Direxion Daily TSM Bull 2X Shares during the first quarter worth approximately $543,000. Finally, SG Americas Securities LLC acquired a new stake in Direxion Daily TSM Bull 2X Shares during the third quarter worth approximately $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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