Direxion Shares has launched six new exchange-traded funds that offer 300% leverage to the markets.
The Direxion Shares 3x ETFs are both bull and bear funds in that they offer either 300% of the daily performance or 300% of the inverse of the daily performance of the market.
Our first eight Direxion Shares ETFs have been extremely well received by sophisticated advisers and institutional investors, some seeking to hedge positions in their portfolios and others seeking to take advantage of the current volatile markets, said Direxion President Dan ONeill.
Within the first five weeks of launching its first ETFs in November, Direxion took in more than $800 million.
The new ETFs track the MSCI EAFE Index, MSCI Emerging Markets Index and Russell 1000 Technology Index.