Direxion Daily TSM Bull 2X Shares (NASDAQ:TSMX) Trading Up 7.1% - Here's Why

Key Points

• Direxion Daily TSM Bull 2X Shares (NASDAQ: TSMX) experienced a significant surge, trading up 7.1% on Wednesday, reaching a peak of $56.22 before closing at $55.63.
• The fund recently issued a quarterly dividend of $0.1917 per share, with a yield of 1.4% and a payout ratio of -3.43%.
• Institutional interest surged as several hedge funds, including SBI Securities and Tower Research Capital, dramatically increased their holdings in TSMX during the second quarter.

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

Direxion Daily TSM Bull 2X Shares Stock Down 3.1%

The stock's 50-day moving average is $39.96 and its 200-day moving average is $30.42. The firm has a market cap of $153.70 million and a P/E ratio of -2.50.

Direxion Daily TSM Bull 2X Shares Cuts Dividend

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

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

Several institutional investors and hedge funds have recently bought and sold shares of TSMX. SBI Securities Co. Ltd. boosted its stake in shares of Direxion Daily TSM Bull 2X Shares by 27,550.0% in the 2nd quarter. SBI Securities Co. Ltd. now owns 1,106 shares of the company's stock valued at $36,000 after purchasing an additional 1,102 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake 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 purchasing an additional 1,743 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Direxion Daily TSM Bull 2X Shares in the 1st quarter valued at $543,000. Finally, Client First Investment Management LLC acquired a new stake in shares of Direxion Daily TSM Bull 2X Shares in the 2nd quarter valued at $1,636,000.

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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