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4 Direxion ETFs Target Natural Gas and Retail Stocks
July 14, 2010
SAN DIEGO (ETFguide.com) – Direxion Shares has just introduced four bull and bear ETFs linked to natural gas and retail stocks.
The bull leveraged funds aim for 200% of the daily performance of the ISE-REVERE Natural Gas Index and the Russell 1000 RGS Retail Index, while the inverse leveraged funds shoot for 200% opposite daily performance on the same benchmarks.
The bull leveraged ETFs are:
-- Direxion Daily Retail Bull 2X Shares (NYSEArca: RETL)
-- Direxion Daily Natural Gas Related Bull 2X Shares (NYSEArca: FCGL)
The bear leveraged ETFs are:
--Direxion Daily Retail Bear 2X Shares (NYSEArca: RETS)
--Direxion Daily Natural Gas Related Bear 2X Shares (NYSEArca: FCGS)
"Direxion works to continuously deliver innovative tactical investment solutions that help sophisticated investors take advantage of market opportunities regardless of conditions," stated Dan O'Neill, Direxion Shares' President
The ISE-REVERE Natural Gas Index tracks companies that derive a substantial portion of their revenues from the exploration and production of natural gas. The Russell 1000 RGS Retail Index includes constituents of the Russell 1000 Index that are classified within the retail subsector of the Russell Global Sector Scheme.
According to the prospectus, the new Direxion ETFs charge 0.95% in annual expenses.
Direxion 2x and 3x ETFs are typically used by traders or investors to hedge positions in their current portfolios, while others use the funds to seek to take advantage of short-term trading opportunities.
At the end of June the Boston, MA-based investment manager had $5.9 billion in ETF assets. |
