The ASX Ltd (ASX: ASX) share price has had a tough run lately despite the company's silence.
The ASX share price has fallen a significant 6% over the last 3 weeks.
While the stock exchange operator hasn't posted any price-sensitive news in nearly a month, there have been a couple of happenings that could have impacted its share price.
Right now, the ASX share price is $83.16, 2.33% higher than its previous close.
Let's take a closer look at what might have been driving ASX's shares lower recently.
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What might be driving ASX on the ASX?
The ASX share price has had a rough trot these last few weeks, even as the company hasn't posted news since mid-August.
However, ASX's ex-dividend date was passed on 6 September. That means that an investor needed to have the company's shares in their portfolio before that date to receive a dividend.
As the company's final dividend for financial year 2021 was worth $1.112, it makes sense the market saw the value of ASX's stock drop by that amount from the ex-dividend date.
In fact, the ASX share price fell by $1.58 on its most recent ex-dividend date.
Additionally, the company's share price might be recovering from the notable climb that followed the release of its financial year 2021 results. Over the 3 days following the release of ASX's financial year 2021 earnings, the company's shares gained 8%.
The poor 3 week's performance might be representative of the market's excitement surrounding ASX's earnings dwindling.
Further, the last few weeks haven't been great for the broader market. The S&P/ASX 200 Index (ASX: XJO) has fallen 0.7% over the last 3 weeks. While the All Ordinaries Index (ASX: XAO) is down 0.3%.
This means, no matter what's caused its slump, ASX's stock isn't alone in its recent struggles.
ASX share price snapshot
Despite ASX's stock's recent slump, it's still having a good year on the ASX.
It is currently 14% higher than it was at the start of 2021. It has also gained 0.7% since this time last year.
