Direxion launches latest leveraged ETFs
Direxion, a US-based provider of alternative investment strategies, has unveiled two three-times leveraged exchange-traded funds (ETFs) in its range. The Direxion Mid Cap Bull 3x Shares and Direxion Mid Cap Bear 3x Shares ETFs provide 300% of the daily performance, or inverse daily performance, of the Russell MidCap Index. The index, which is a subset of the Russell 1000 index, measures the performance of the mid-cap sector of the US equity universe.
"Trading volume for the products has been quite high, mainly due to the fact that we now offer investors the highest amount of leverage available in the marketplace on the long and short side," says Dan O'Neill, president of Direxion Shares. "Additionally, the flexibility that these products afford investors can prove quite valuable in these volatile markets."
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">Direxion bursts into ETF market with 300%
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