Direxion Daily TSM Bull 2X Shares (NASDAQ:TSMX) Trading 7.1% Higher - Should You Buy?

Key Points

• Direxion Daily TSM Bull 2X Shares (NASDAQ:TSMX) saw a significant trading increase of 7.1%, with shares reaching as high as $56.22.
• The company recently cut its dividend, announcing a payout of $0.1917 per share with a dividend yield of 1.4%.
• Institutional interest in TSMX is growing, with various firms significantly increasing their stakes, including Jane Street Group LLC and SBI Securities Co. Ltd..

Direxion Daily TSM Bull 2X Shares (NASDAQ:TSMX - )'s share price traded up 7.1% during trading on Wednesday . The company traded as high as $56.22 and last traded at $55.63. 942,124 shares changed hands during mid-day trading, an increase of 53% from the average session volume of 617,747 shares. The stock had previously closed at $51.92.

Direxion Daily TSM Bull 2X Shares Trading Down 3.1%

The firm has a market capitalization of $153.70 million and a price-to-earnings ratio of -2.50. The business's fifty day moving average price is $39.96 and its 200 day moving average price is $30.42.

Direxion Daily TSM Bull 2X Shares Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 23rd were given a $0.1917 dividend. The ex-dividend date was Tuesday, September 23rd. This represents a $0.77 annualized dividend and a dividend yield of 1.4%. Direxion Daily TSM Bull 2X Shares's payout ratio is currently -3.43%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TSMX. Client First Investment Management LLC acquired a new position in shares of Direxion Daily TSM Bull 2X Shares during the 2nd quarter valued at about $1,636,000. Jane Street Group LLC increased its stake 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 valued at $1,865,000 after acquiring an additional 28,888 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Direxion Daily TSM Bull 2X Shares by 85.2% during 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 in the last quarter. Finally, SBI Securities Co. Ltd. increased its position in Direxion Daily TSM Bull 2X Shares by 27,550.0% during the 2nd quarter. SBI Securities Co. Ltd. now owns 1,106 shares of the company's stock worth $36,000 after purchasing an additional 1,102 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.