The Board of Trustees of the Direxion Shares ETF Trust has decided to liquidate and close the Direxion Daily Silver Miners Index Bull 2X Shares and Direxion Daily Emerging Markets Bond Bull 3X Shares, based on the recommendation of Rafferty Asset Management, LLC, the Funds’ investment adviser.
In addition, the Board has also decided to liquidate and close the PortfolioPlus Total Bond Market ETF based on the recommendation of Direxion Advisors, the Fund’s investment adviser.
The Funds will cease trading on the NYSE Arca, Inc. (“NYSE”) and will be closed to purchase by investors as of the close of regular trading on the NYSE on 24 September 2018 (the Closing Date). The Funds will not accept purchase orders after the Closing Date.
Due to the Funds’ inability to attract sufficient investment assets, Rafferty believes they cannot continue to operate the Funds in an economically efficient manner. As a result, the Board concluded that liquidating and closing the Funds would be in the best interest of the Funds and their shareholders.
