Direxion on the other hand announced considerable tax-distributions. The ex-dividend date for Direxion was November 20th. No prior notice was given by Direxion. As per Direxion's distribution announcement, the distributions ranged from 7.48% to 14.70% of NAV (on 11-20-09). Below is a list of affected ETFs. More than 99% of gains are considered short-term capital gains for tax purposes.