Direxion Shares made changes to the underlying benchmark indices for eight leveraged and inverse exchange-traded funds (ETFs).
In addition, the Direxion Daily Large Cap Bull 3X Shares (BGU - News) was renamed the Direxion Daily S&P 500 Bull 3X Shares (SPXL - News) and the Direxion Daily Large Cap Bear 3X (BGZ - News) Shares was renamed the Direxion Daily S&P 500 Bear 3X Shares (SPXS - News).
"We are very pleased to expand our relationship with Standard & Poor's, whose market indices have long been among the leaders in the industry," said Dan O'Neill Direxion's President and Chief Investment Officer. "We feel that these S+P indices provide our investors with the most recognizable exposure to these underlying markets."
Direxion Shares is based in Boston, MA-based and manages around $6.5 billion in ETF assets.
The modifications are effective as of June 29, 2012. (See below table)
Fund Name |
Old Ticker |
New Ticker |
Old Index |
New Index |
Direxion Daily Large Cap Bull 3x Shares |
BGU |
SPXL |
Russell 1000 |
S&P 500 |
Direxion Daily Large Cap Bear 3x Shares |
BGZ |
SPXS |
Russell 1000 |
S&P 500 |
Direxion Daily Mid Cap Bull 3x Shares |
MWJ |
MIDU |
Russell Mid Cap |
S&P Mid Cap 400 |
Direxion Daily Mid Cap Bear 3x Shares |
MWN |
MIDZ |
Russell Mid Cap |
S&P Mid Cap 400 |
Direxion Daily Technology Bull 3x Shares |
TYH |
TECL |
Russell 1000 Technology |
Technology Select Sector |
Direxion Daily Technology Bear 3x Shares |
TYP |
TECS |
Russell 1000 Technology |
Technology Select Sector |
Direxion Daily Energy Bull 3x Shares |
ERX |
No Change |
Russell 1000 Energy |
Energy Select Sector |
Direxion Daily Energy Bear 3x Shares |
ERY |
No Change |
Russell 1000 Energy |
Energy Select Sector |
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