NEW YORK, May 14, 2015 /PRNewswire/ -- Direxion Investments will execute the previously announced reverse share splits for 8 of its leveraged exchange-traded funds ("ETFs"), as well as forward share splits for another 11 leveraged ETFs. The total market value of the shares outstanding will not be affected as a result of these splits, except with respect to the redemption of fractional shares, as outlined in the original announcement.
8 Reverse Splits
Direxion will execute reverse splits of the shares of the Direxion Daily Brazil Bull 3X Shares (BRZU), Direxion Daily FTSE China Bear 3X Shares (YANG), Direxion Daily Natural Gas Related Bull 3X Shares (GASL), Direxion Daily Mid Cap Bear 3X Shares (MIDZ), Direxion Daily Latin America Bull 3X Shares (LBJ), Direxion Daily Russia Bear 3X Shares (RUSS), Direxion Daily Semiconductor Bear 3X Shares (SOXS), and Direxion Daily Technology Bear 3X Shares (TECS), effective at the open of the market on May 20, 2015.
11 Forward Splits
Additionally, Direxion will execute forward splits of the shares of the Direxion Daily Mid Cap Bull 3X Shares (MIDU), Direxion Daily India Bull 3X Shares (INDL), Direxion Daily Healthcare Bull 3X Shares (CURE), Direxion Daily Retail Bull 3X Shares (RETL), Direxion Daily Semiconductor Bull 3X Shares (SOXL), Direxion Daily Financial Bull 3X Shares (FAS), Direxion Daily Technology Bull 3X Shares (TECL), Direxion Daily S&P 500® Bull 2X Shares (SPUU), Direxion Daily Mid Cap Bull 2X Shares (MDLL), Direxion Daily Small Cap Bull 2X Shares (SMLL), and Direxion Daily 7-10 Year Treasury Bull 2X Shares (SYTL), for all shareholders of record as of the close of the NYSE Arca on May 18, 2015 (the "Record Date"), payable after the close of the NYSE Arca on May 19, 2015 (the "Payable Date").
A detailed summary of the 8 ETFs undergoing reverse splits (including new CUSIPs) and the 11 ETFs undergoing forward splits was provided in the original announcement on April 20, 2015.
About Direxion Investments
Direxion Investments offers highly liquid, tactical and strategic institutional-quality ETFs and mutual funds for investors seeking to solve for better investment outcomes. Founded in 1997, the company has approximately $9.4 billion in assets under management as of March 31, 2015. Direxion's diverse suite of products helps investors navigate today's ever-changing markets. For more information, please visit www.direxioninvestments.com.
There is no guarantee that the funds will achieve their objectives.
For more information on all Direxion Shares daily leveraged ETFs, go to direxioninvestments.com, or call us at 866-476-7523.
The ETFs are not suitable for all investors and should be utilized only by sophisticated investors who understand leverage risk, consequences of seeking daily leveraged investment results and intend to actively monitor and manage their investments. Due to the daily nature of the leverage employed, there is no guarantee of amplified long-term returns. Past performance is not indicative of future results.
An investor should consider the investment objectives, risks, charges, and expenses of Direxion ETFs carefully before investing. The prospectus and summary prospectus contains this and other information about Direxion ETFs. Download a prospectus and summary prospectus at direxioninvestments.com. The prospectus and summary prospectus should be read carefully before investing.
An investment in the ETFs involves risk, including the possible loss of principal. The ETFs are non-diversified and include risks associated with concentration risk that results from the Funds' investments in a particular industry or sector which can increase volatility. The use of derivatives such as futures contracts, forward contracts, options and swaps are subject to market risks that may cause their price to fluctuate over time. The Funds do not attempt to, and should not be expected to; provide returns which are a multiple of the return of their Indexes for periods other than a single day. For other risks including leverage, correlation, compounding, market volatility, shorting for the bear funds, and specific risks regarding each sector, please read the prospectus.
Distributor: Foreside Fund Services, LLC.
SOURCE Direxion Investments