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Direxion shares executes reverse share split of four ETFs

Direxion, a provider of alternative investment strategies to sophisticated investors, will execute a one-for-five reverse split of the shares of four exchange-traded funds for shareholders of record after the close of the markets on 7 July.

The ETFs are the Direxion Daily Energy Bear 3x Shares, Direxion Daily Real Estate Bear 3x Shares, Direxion Daily Small Cap Bear 3x Shares and Direxion Daily Technology Bear 3x Shares.

The reverse split for the four ETFs was previously announced on 17 June 2010.

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