You can move only the database to new directories.
To move the database from one location on the server to another location, follow this procedure:
backup db type=full devclass=files
mkdir /tsmdb005 mkdir /tsmdb006 mkdir /tsmdb007 mkdir /tsmdb008
mkdir l:\tsm\db005 mkdir m:\tsm\db006 mkdir n:\tsm\db007 mkdir o:\tsm\db008
/tsmdb005 /tsmdb006 /tsmdb007 /tsmdb008
l:\tsm\db005 m:\tsm\db006 n:\tsm\db007 o:\tsm\db008
dsmserv removedb TSMDB1
dsmserv restore db todate=today on=dbdir.file