Direxion Daily TSM Bull 2X Shares (NASDAQ:TSMX) Stock Price Down 8.9% – Should You Sell?

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

Direxion Daily TSM Bull 2X Shares Stock Down 5.8%

The company has a market cap of $596.79 million, a price-to-earnings ratio of -3.33 and a beta of 2.98. The firm has a 50 day moving average price of $85.67 and a two-hundred day moving average price of $71.25.

Direxion Daily TSM Bull 2X Shares Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC lifted its holdings in Direxion Daily TSM Bull 2X Shares by 633.5% in 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 boosted its position in Direxion Daily TSM Bull 2X Shares by 101.0% during the second 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. HRT Financial LP acquired a new stake in Direxion Daily TSM Bull 2X Shares during the 4th quarter worth about $216,000. Finally, Tower Research Capital LLC TRC grew its holdings 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 acquiring an additional 1,743 shares during the period.

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.