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In case you haven’t heard, fund company Direxion says this morning it’s planning a 1-for-5 reverse split of the shares of ETFs:
The Direxion Daily Financial Bear 3x Shares (FAZ) The Direxion Daily Large Cap Bear 3x Shares (BGZ) The Direxion Daily Mid Cap Bear 3x Shares (MWN) The Direxion Daily Developed Markets Bear 3x Shares (DPK) The Direxion Daily Semiconductor Bear 3x Shares (SOXS). The splits will involve shareholders of record after the close of markets on Feb. 23, according to a statement.
Also, Direxion will make a 1-for-3 reverse split of the shares of the Direxion Daily Small Cap Bear 3x Shares (TZA) for shareholders after the close of markets on that same Wednesday.