Direxion, a pioneer in providing alternative investment strategies to sophisticated investors, announced Thursday it will execute a 1-for-5 reverse split of the shares of the Daily 3x Bear funds: the Direxion Daily Energy Bear 3x Shares (ERY), Direxion Daily Real Estate Bear 3x Shares (DRV), Direxion Daily Small Cap Bear 3x Shares (TZA) and Direxion Daily Technology Bear 3x Shares (TYP) for shareholders of record after the close of the markets on Wednesday, July 7, 2010.

While Direxion provides performance and NAV information on its other ETFs at its website, no information on these funds was available at presstime.

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