Direxion has launched five new daily leveraged and inverse exchange-traded funds, focused on sectors that have attracted large assets and have high trading volume.
They include bull and bear funds that seek 300% of the daily performance or 300% of the inverse of the daily performance of the S&P Materials Select Sector Index and the S&P Healthcare Select Sector Index, and a fund that seeks 100% of the inverse of the daily performance of the MSCI US Broad Market Index.
“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,” said Direxion President Dan O’Neill.
“Our 3x Daily Direxion leveraged funds offer magnified benchmark exposure for investors who actively manage their trading positions,” O’Neill continued. “Sophisticated investors can use them to take advantage of short-term market movements and opportunities, keeping in mind that these funds are designed to complement core investment strategies, not to replace them.”