Direxion as added two new ETFs to its existing lineup of leveraged and inverse ETFs. The Direxion Daily European Financials Bull 2X Shares (EUFL) seeks to achieve 200 per cent of the daily performance of the MSCI Europe Financials Index. The Direxion Daily Gold Miners Index Bear 1X Shares (Ticker: MELT) seeks to achieve 100 per cent of the inverse of the daily performance of the NYSE Arca Gold Miners Index.
"We've seen recent instability in European markets, with the post-Brexit effect yet to subside as political and economic uncertainties remain," says Sylvia Jablonski, Managing Director at Direxion. "The launch of the European Financials leveraged ETF is timely, as market reaction to the EU situation presents the chance for bullish traders to magnify their short-term perspective.
“Our new Gold Miners bear ETF will complement the existing suite of ETFs tracking that space, to give traders another option for taking advantage of short-term opportunities."