PR Newswire9 months ago
NEW YORK, March 2, 2018 /PRNewswire/ -- The Board of Trustees of the Direxion Shares ETF Trust has decided to liquidate and close the Direxion iBillionaire Index ETF (IBLN) ("the Fund") based on the recommendation of Rafferty Asset Management, LLC, the Fund's adviser. The Fund will cease trading on the NYSE Arca, Inc. ("NYSE") and will be closed to purchase by investors as of the close of regular trading on the NYSE on April 6, 2018 (the "Closing Date"). The Fund will not accept purchase orders after the Closing Date. Due to the Fund's inability to attract sufficient investment assets, Rafferty believes they cannot continue to operate the Fund in an economically efficient manner.