Bringing you live news and features since 2006 

Direxion launches ETFs based on PHLX Semiconductor Sector Index

RELATED TOPICS​

Direxion Shares has launched two exchange-traded funds based on Nasdaq OMX’s PHLX Semiconductor Sector index.

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 PHLX Semiconductor Sector index.

“The PHLX Semiconductor Sector index provides broad exposure to an industry that is increasingly tied to the global economy,” says John Jacobs, executive vice president, Nasdaq OMX Global Index Group. “With the launch of these ETFs, investors can now employ new investment strategies involving some of the world’s most innovative companies that often drive the broader technology industry.”

“Direxion is a leader in delivering innovative investment solutions that provide magnified exposure to a spectrum of specific industry sectors, on both the long and short end,” adds Dan O’Neill, Direxion Shares’ president. “We are pleased to introduce our new semiconductor 3x ETFs, which reflect our commitment to serving sophisticated investors with tactical investment tools amid changing market conditions.”

The index is a modified capitalization-weighted index composed of companies primarily involved in the design, distribution, manufacture, and sale of semiconductors.

Latest News

Morningstar has published a review of the European ETF market for the first quarter 2024, which finds that it gathered..
ETF data consultant ETFGI reports that assets invested in the global ETF industry reached a new record of USD12.71 trillion..
Calastone has published an ETF white paper which examines several of the processes that take place across the lifecycle of..
Adapting product lines to fit into changing methodologies and meet shifting demand is essential to remaining relevant in the industry..

Related Articles

ETFs
US ETF issuers of active ETFs are facing an increase in fees from the big custodian firms, such as Charles...
Taylor Krystkowiak, Themes ETFs
Themes ETFs opened its doors in December 2023, with an introductory suite of 11 ETFs – seven thematic and four...
Konrad Sippel, Solactive
At the end of March, financial index specialist, Solactive, published its 2024 annual report on future trends.  ...
Lorraine Sereyjol-Garros, BNP Paribas
Following changes to the French Monetary and Financial Code and of the French market authority AMF’s General Regulation, it is...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by