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

Key Points

• Direxion Daily TSM Bull 2X Shares (NASDAQ: TSMX) gapped down at the open, falling from a prior close of $80.06 to an opening price of $74.92 before last trading around $76.63.
• The ETF remains volatile, with a beta of 2.98 and trading above its 200-day moving average of $71.05 but below its 50-day moving average of $86.03.
• TSMX is a 2x leveraged ETF tied to Taiwan Semiconductor Manufacturing stock, and it recently paid a quarterly dividend of $0.3574 per share, implying a 1.9% annualized yield.

Shares of Direxion Daily TSM Bull 2X Shares (NASDAQ:TSMX - ) gapped down before the market opened on Thursday . The stock had previously closed at $80.06, but opened at $74.92. Direxion Daily TSM Bull 2X Shares shares last traded at $76.63, with a volume of 1,127,927 shares changing hands.

Direxion Daily TSM Bull 2X Shares Price Performance

The business's fifty day moving average price is $86.03 and its 200-day moving average price is $71.05. The stock has a market capitalization of $611.59 million, a PE ratio of -3.57 and a beta of 2.98.

Direxion Daily TSM Bull 2X Shares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd were paid a $0.3574 dividend. The ex-dividend date was Tuesday, June 23rd. This represents a $1.43 annualized dividend and a yield of 1.9%. Direxion Daily TSM Bull 2X Shares's dividend payout ratio is currently -19.29%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC boosted its stake in Direxion Daily TSM Bull 2X Shares by 633.5% during the fourth quarter. SG Americas Securities LLC now owns 131,300 shares of the company's stock valued at $6,484,000 after buying an additional 113,400 shares during the period. Jane Street Group LLC increased its stake in 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 worth $1,865,000 after acquiring an additional 28,888 shares during the last quarter. HRT Financial LP bought 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 shares of 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 valued at $123,000 after acquiring an additional 1,743 shares in the last quarter.

Direxion Daily TSM Bull 2X Shares Company Profile

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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