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Direxion Shares adds leveraged ETFs for technology, developed and emerging markets


Boston-based Direxion has announced the addition of six Direxion Shares 3x exchange traded funds to its existing line up of multi-directional, leveraged funds.

Boston-based Direxion has announced the addition of six Direxion Shares 3x exchange traded funds to its existing line up of multi-directional, leveraged funds.

The new ETFs are leveraged bull and bear index funds that seek 300 per cent of the daily performance, or 300 per cent of the inverse of the daily performance (before fees and expenses), of the distinct indexes they benchmark.

There is no guarantee that the funds will achieve their objective.

Dan O’Neill, Direxion Shares’ president, says: “Our first eight Direxion Shares ETFs have been extremely well received by sophisticated advisors and institutional investors – some seeking to hedge positions in their portfolios and others seeking to take advantage of the current volatile markets. We experienced remarkable levels of trading volume following the launch of our initial ETFs, garnering over USD800m in assets in the first five weeks, as of 12 December 2008. The reception of these funds in the marketplace has been overwhelmingly positive.”

Like the first eight Direxion Shares ETFs launched in November 2008, the six new ETFs give investment advisors and sophisticated investors the ability to execute active trading strategies in varying market types.

The funds deliver increased market exposure of 300 per cent, long and short, of their respective indices.

The suite of Direxion Shares ETFs represents the highest amount of leverage currently available in the ETF space.

“This second grouping of six leveraged index bull and bear ETFs provides investors with the ability to achieve increased exposure to the MSCI EAFE Index, MSCI Emerging Markets Index and the Russell 1000 Technology Index,” O’Neill adds. “In addition to the diversified indexes that our first eight ETFs track, we can now offer our investors leveraged exposure to international markets as well as a widely tracked technology index. Our goal here, and with potential future ETF offerings, is to empower our investors with the tools necessary to seek to succeed in today’s markets, and in all market types.”

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