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Direxion launches 3x leveraged Pharmaceuticals ETF

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Direxion has launched the Direxion Daily Pharmaceutical Bull 3X Shares exchange traded fund (PILL).

The Fund seeks to achieve 300 per cent of the daily performance of the Dynamic Pharmaceutical Intellidex Index. The index provides exposure to 30 US pharmaceutical companies principally engaged in the research, development, manufacture, sale or distribution of pharmaceuticals and drugs of all types.
 
“The pharmaceutical sector is continuously evolving, with research and development leading to new product innovation and availability,” says Sylvia Jablonski, Managing Director at Direxion. “The launch of PILL is timely, allowing traders to magnify their short-term bullish perspective on the popular sector.” 
 
Like all leveraged ETFs, this Direxion product is intended only for investors with an in-depth understanding of the risks associated with seeking leveraged investment results, and who plan to actively monitor and manage their positions. There is no guarantee that this Fund will meet its objective.

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