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Products November 3, 2008
Direxion Enters ETF Market
November 3, 2008 (PLANSPONSOR.com) - Direxion
announced its entrance into the exchange-traded fund (ETF)
space with the Direxion Shares 3x ETFs, slated to begin
trading Wednesday, November 5, 2008.
Reported by Rebecca Moore
The new ETFs are a group of leveraged Bull and Bear index funds that seek 300% of the daily performance, or 300% of the inverse of the daily performance (before fees and expenses) of the Russell indexes they benchmark.
The new Direxion Shares ETFs are designed to give investment advisers and sophisticated investors the ability to execute active trading strategies in all types of markets, the announcement said. The funds deliver increased market exposure via 3 to 1 leverage, long and short of their respective indexes and afford investors the opportunity to effectively allocate capital to seek improved risk-adjusted returns.
The new Direxion Bull and Bear 3x ETFs include:
- Direxion Large Cap Bull 3x Shares (BGU),
- Direxion Small Cap Bull 3x Shares (TNA),
- Direxion Energy Bull 3x Shares (ERX),
- Direxion Financial Bull 3x Shares (FAS),
- Direxion Large Cap Bear 3x Shares (BGZ),
- Direxion Small Cap Bear 3x Shares (TZA),
- Direxion Energy Bear 3x Shares (ERY), and
- Direxion Financial Bear 3x Shares (FAZ).
To request more information, contact Melinda Staab at (973) 400-1341 or melinda@jcpublicrelations.com .