Direxion is to execute reverse share splits for seven of its leveraged exchange-traded funds, as well as forward share splits for another two leveraged ETFs.
The total market value of the shares outstanding will not be affected as a result of these splits, except with respect to the redemption of fractional shares.
Direxion will execute one-for-four reverse splits of the shares of the Direxion Daily India Bull 3X Shares (INDL), Direxion Daily Real Estate Bear 3X Shares (DRV), Direxion Daily Semiconductor Bear 3X Shares (SOXS), Direxion Daily Developed Markets Bear 3X Shares (DPK) and Direxion Daily Natural Gas Related Bear 3X Shares (GASX), effective at the open of the markets on 20 August 2013.
The firm will also execute a one-for-five reverse split of the shares of the Direxion Daily S&P 500 Bear 3X Shares (SPXS) and a one-for-10 reverse split of the shares of the Direxion Daily Gold Miners Bull 3X Shares (NUGT), also effective at the open of the markets on 20 August.
In addition, Direxion will execute two-for-one forward splits of the shares of the Direxion Daily Gold Miners Bear 3X Shares (DUST) and Direxion Daily Healthcare Bull 3X Shares (CURE).
