Direxion Shares Adds Two 3x Leveraged ETFs To Existing Fund Offerings …
Direxion announce the addition of two new Direxion Shares 3x ETFs to their existing line up of multi-directional, leveraged funds. The new ETFs are 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 MidCap® Index. There is no guarantee that the funds will achieve their objective.
“We received such a wonderful response from investors after the launch of our first 14 ETFs last year,” stated Dan O’Neill, Direxion Shares’ President. “Trading volume for the products has been quite high, mainly due to the fact that we now offer investors the highest amount of leverage available in the marketplace on the long and the short side. Additionally, the flexibility that these products afford investors can prove quite valuable in these volatile markets.”
Many sophisticated advisors and institutional investors are using these 3x ETFs to hedge the positions in their current portfolios, while others are using the Funds to seek to take advantage of the volatility found in today’s markets. The Direxion Shares ETFs represent the highest amountof leverage currently available in the ETF space.
The Russell MidCap® Index measures the performance of the mid-cap segment of the U.S. equity universe. A subset of the Russell 1000® Index, the average Market Capitalization of the Index is roughly $5.2 billion. “We are excited to strengthen our ETF line up with these two new ETF products,” continued O’Neill. “Offering investors exposure to this index, both long and short, is just another step that we have taken to provide our investors with the tools necessary to seek to effectively manage their portfolios and profit in various markets.”
The two new Direxion ETFs are:
Fund Name: Direxion Mid Cap Bull 3x Shares (MWJ)
Benchmark: Russell MidCap® Index
Fund Name: Direxion Mid Cap Bear 3x Shares (MWN)
Benchmark:Russell MidCap® Index
Leverage: – 300%
Source: ETFWorld.co.uk – Direxion