Direxion Shares has announced the addition of two new Direxion Shares 3x ETFs to its existing line-up of multi-directional, leveraged funds.
Direxion Shares has announced the addition of two new Direxion Shares 3x ETFs 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 Russell MidCap Index.
‘We received such a wonderful response from investors after the launch of our first 14 ETFs last year,’ says 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.’
The Russell MidCap Index measures the performance of the mid-cap segment of the US equity universe.
A subset of the Russell 1000 Index, the average market capitalization of the index is roughly USD5.2bn.
‘We are excited to strengthen our ETF line up with these two new ETF products,’ adds 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.’
