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Direxion launches two inverse ETFs


Direxion is expanding its exchange traded fund offering with the launch of two inverse ETFs.

The Direxion Daily Consumer Staples Bear 1X Shares (SPLZ) will seek daily investment results, before fees and expenses, of 100 per cent of the inverse (or opposite) of the performance of the Consumer Staples Select Sector Index.
The Direxion Daily Utilities Bear 1X Shares (UTLZ) meanwhile, seeks daily investment results, before fees and expenses, of 100 per cent of the inverse (or opposite) of the Utilities Select Sector Index.
“The Federal Reserve recently raised interest rates and signalled up to three more increases in 2017 due to a strengthening economy, increasing inflation and a multi-year low unemployment rate. Against that backdrop, investors are concerned a rising-rate environment may have a negative impact on their portfolios,” says Paul Brigandi, managing director at Direxion. “The launch of SPLZ and UTLZ is timely, as they both provide inverse exposure to two sectors having historically high sensitivity to rising rates.” 

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