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Direxion to execute reverse and forward share splits of nine leveraged ETFs

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Direxion is to execute reverse share splits for four of its leveraged exchange-traded funds (ETFs), as well as forward share splits for another five 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 a 1-for-4 reverse split of the Direxion Daily Natural Gas Related Bear 3X Shares.

The firm will also execute a 1-for-5 reverse split of the Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 3X Shares, Direxion Daily Gold Miners Index Bear 3X Shares and Direxion Daily Junior Gold Miners Index Bear 3X Shares.

The splits are effective at the open of the market on 25 August 2016.

Additionally, Direxion will execute forward splits of the Direxion Daily Brazil Bull 3X Shares, Direxion Daily Real Estate Bull 3X Shares, Direxion Daily 20+ Treasury Bull 3X Shares, Direxion Daily Gold Miners Index Bull 3X Shares and the Direxion Daily Junior Gold Miners Index Bull 3X Shares.

After the close of the markets on 24 August, each fund will affect a split of its issued and outstanding shares as follows: Direxion Daily Brazil Bull 3X Shares (BRZU) 4-for-1; Direxion Daily Real Estate Bull 3X Shares (DRN) 4-for-1; Direxion Daily 20+ Treasury Bull 3X Shares (TMF) 4-for-1; Direxion Daily Gold Miners Index Bull 3X Shares (NUGT) 5-for-1; Direxion Daily Junior Gold Miners Index Bull 3X Shares (JNUG) 10-for-1.

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