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Direxion Realigns ETF Lineup
October 4, 2011
Big changes are coming to the Direxion Shares ETF lineup. The company’s Board of Trustees approved realignment to the names and investment strategies for 10 leveraged funds.
The funds' new investment objectives will seek daily results, before fees and expenses, of 300 percent or inverse 300 percent of the performance of the fund's target index. The funds previously sought daily results of 200 percent or inverse 200 percent.
The changes will be effective December 1, 2011 and apply to the following Direxion funds:
Current Fund Name / New Fund Name
Daily BRIC Bull 2X Shares / Daily BRIC Bull 3X Shares (NYSEArca: BRIL)
Daily BRIC Bear 2X Shares / Daily BRIC Bear 3X Shares (NYSEArca: BRIS)
Daily India Bull 2X Shares / Daily India Bull 3X Shares (NYSEArca: INDL)
Daily India Bear 2X Shares / Daily India Bear 3X Shares (NYSEArca: INDZ)
Daily Gold Miners Bull 2X Shares / Daily Gold Miners Bull 3X Shares (NYSEArca: NUGT)
Daily Gold Miners Bear 2X Shares / Daily Gold Miners Bear 3X Shares (NYSEArca: DUST)
Daily Natural Gas Related Bull 2X Shares / Daily Natural Gas Related Bull 3X Shares (NYSEArca: GASL)
Daily Natural Gas Related Bear 2X Shares / Daily Natural Gas Related Bear 3X Shares (NYSEArca: GASX)
Daily Retail Bull 2X Shares / Daily Retail Bull 3X Shares (NYSEArca: RETL)
Daily Retail Bear 2X Shares / Daily Retail Bear 3X Shares (NYSEArca: RETS)
Each of the funds’ ticker symbols and expense ratios will remain the same.
In related news, Direxion Shares closed the Direxion Airline Shares Fund (NYSEArca: FLYX). Direxion cited the fund’s low level of assets as the primary reason for FLYX’s closing. Airline stocks (NYSEArca: FAA) have taken a beating this year, falling by around 40 percent in value.
The Boston, MA-based investment firm manages around $7 billion in ETF assets, which are linked to leverage and inverse products. |
