Direxion Shares executed a 1-for-5 reverse split of five ETFs on Wednesday. The ETFs in question were the Direxion Daily Real Estate Bear 3x Shares (DRV), Direxion Daily Emerging Markets Bull 3x Shares (EDC), Direxion Daily Financial Bull 3x Shares (FAS), Direxion Daily Latin America Bull 3x Shares (LBJ), and Direxion Daily 20+ Year Treasury Bear 3x Shares (TMV).
Additionally, the firm also executed a 1-for-3 reverse split of the shares of the Direxion Daily Russia Bull 3x Shares (RUSL).
The reverse split for the six ETFs was previously announced on 3 October, 2011.
