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Rating:A New Direxion ETF Bears a New Index Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, June 15, 2011

A New Direxion ETF Bears a New Index

Reported by Neil Anderson, Managing Editor

Direxion [see profile] just tweaked one of its brand new inverse index ETFs. Yesterday the Boston-based leveraged-index mutual fund specialist filed to switch the Direxion Daily Total Market Bear 1X Shares ETF's benchmark index from the Russell 3000 to the MSCI US Broad Market [see filing].

The Daily Total Market Bear 1X Shares ETF is one of five new ETFs Direxion launched today. The others, which all track S&P indexes, are: Direxion Daily Basic Materials Bull 3X Shares; Direxion Daily Basic Materials Bear 3X Shares; Direxion Daily Healthcare Bull 3X Shares; and Direxion Daily Healthcare Bear 3X Shares.

"We understand that market direction matters, so we strive to offer an alternative to static investment strategies while delivering exposure to the various markets in which investors have high levels of interest, such as basic materials and healthcare," stated Dan O'Neill, president of Direxion. 

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