Direxion Daily TSM Bull 2X Shares (NASDAQ:TSMX) Shares Down 8.9% - Time to Sell?

Key Points

• Direxion Daily TSM Bull 2X Shares (TSMX) fell 8.9% on Friday, closing at $69.37 after trading as low as $67.30. Volume was lighter than usual, with about 504,352 shares traded versus an average of 934,729.
• The ETF has a market cap of $609.36 million, a beta of 2.98, and is trading below its 50-day simple moving average of $85.88 but slightly above its 200-day simple moving average of $71.25.
• TSMX recently paid a quarterly dividend of $0.3574 per share, equal to an annualized yield of about 2.0%. The fund provides 2x leveraged exposure to the daily performance of Taiwan Semiconductor Manufacturing (TSM) stock.

Direxion Daily TSM Bull 2X Shares (NASDAQ:TSMX - ) fell 8.9% on Friday . The stock traded as low as $67.30 and last traded at $69.37. Approximately 504,352 shares traded hands during trading, a decline of 46% from the average session volume of 934,729 shares. The stock had previously closed at $76.14.

Direxion Daily TSM Bull 2X Shares Stock Performance

The company has a market cap of $609.36 million, a price-to-earnings ratio of -3.40 and a beta of 2.98. The business has a 50-day simple moving average of $85.88 and a 200-day simple moving average of $71.25.

Direxion Daily TSM Bull 2X Shares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were paid a dividend of $0.3574 per share. This represents a $1.43 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Tuesday, June 23rd. Direxion Daily TSM Bull 2X Shares's dividend payout ratio is presently -19.29%.

Institutional Inflows and Outflows

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

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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