Newton-based Direxion has filed paperwork with U.S. regulators to set up seven equity ETFs, Index Universe reports. A number of the funds will depend on quantitative analysis to determine allocation between stock and cash instruments, whereas the rest will seek volatility domestically and in Latin America. Each of the ETFs will tie up to 20% of their portfolios to derivative instruments for gaining exposure to their benchmarks. The ETFs include the Direxion Large Cap Insider Sentiment Shares, benchmarked against the Sabrient Large-Cap Insider/Quant-Weighted Index and the Direxion All Cap Insider Sentiment Shares that will track the Sabrient Multi-Cap Insider/Analyst Quant-Weighted Index.
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