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Direxion Daily Financial Bear 3X ETF Message Board

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  • nvest80 nvest80 Dec 9, 2008 5:42 PM Flag

    THis is what Direxion is Listing on the Web Site as Today's Close

    "Those are the Net Asset Values (NAV), not the closing % price changes."

    So in other words it's the supply and demand of FAZ that dictates its price, not the corresponding percentage change in the unerlying value, as many here believe. The NAV could be 45 but if people are willing to part from their shares for 20% less then it would go for 36. Or we could have a crash in the financials and simultaneously have FAZ go down if the supply and demand in the market would allow that. Did I get that right?

 
FAZ
32.09-0.53(-1.62%)10:45 AMEDT