Direxion Moves 10 ETFs To Triple-Exposure

Leveraged and inverse funds seller Direxion is changing the leverage on 10 of its existing exchange-traded funds to three times their underlying indexes from two.

Leveraged and inverse funds seller Direxion is changing the leverage on 10 of its existing exchange-traded funds (ETFs) to three times their underlying indexes from two, Index Universe reports. The move follows demand from investors keen on triple-exposure, said director of marketing Andy O’Rourke. The shift, part of a more effective strategy to gather assets, comes right after the Newton, Massachusetts–based company decided to shut its plain-vanilla, single long exposure Direxion Airline ETF. Some of the ETFs being renamed are Daily Bric Bull 2X Shares ETF, which will become Daily Bric Bull 3X Shares, the Daily Bric Bear 2X Shares that will be renamed Daily Bric Bear 3X Shares and the Daily India Bull 2X Shares which will become Daily India Bull 3X Shares. The changes will be effective December 1.

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