Direxion Funds of New York and Boston hopes to break new ground for itself as well as the leveraged ETF marketplace.

On April 30, Direxion Funds registered with the Securities and Exchange Commission 36 ETFs that will each leverage their exposure by 300%. These are the first ETFs to be managed by Direxion, as well as the industry's very first ETFs to employ 300% leverage. Rafferty Asset Management of New York will be the investment advisor for the Direxion ETF Trust.

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