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DPK

Direxion, one of the leading issuers of leveraged ETFs, announced reverse splits for six of its 3x bear funds. Five of the leveraged products will undergo 1-for-5 reverse splits for shareholders of record after the close of the markets on Wednesday, Feb. 23, 2011:

  • Daily Financial Bear 3x Shares (FAZ)
  • Daily Large Cap Bear 3x Shares (BGZ)
  • Daily Mid Cap Bear 3x Shares (MWN)
  • Daily Developed Markets Bear 3x Shares (DPK)
  • Daily Semiconductor Bear 3x Shares (SOXS)

Additionally, the Daily Small Cap Bear 3x Shares (TZA) will undergo a reverse 1-for-3 split. Each of the six ETFs will be assigned a new CUSIP following the reverse splits.

Disclosure: No positions at time of writing.

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Three Leveraged ETFs Up 50% During The Correction

by Eric Dutram on May 21, 2010

The last month has been a wild one on Wall Street and on stock exchanges around the world. Europe’s fiscal woes have rippled throughout global equity markets, as concerns over the impact of a “euro drag” on global growth have intensified. The recent “flash crash” shook confidence in major exchanges, while plummeting commodity prices have hammered resource-intensive economies. While most assets have plunged, some have benefited from the turmoil. Gold and the U.S. dollar, two traditional safe havens, have both soared. Volatility futures, including the volatility ETNs from iPath have skyrocketed. And of course inverse equity ETFs have generally performed very well.  [click to continue…]

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ProShares Plans 300% Leveraged ETFs

by Michael Johnston on February 8, 2010

ProShares, the issuer responsible for pioneering leveraged and inverse ETFs, has filed prospectuses for 16 new funds. Expansion is nothing new for ProShares–the company has launched a handful of new ETFs over the last year–but the filing was interesting because it detailed plans for 300% leveraged ETFs. ProShares’ current product line, which consists of more [...]

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Responding To Calls For ETF Regulation

by Michael Johnston on June 16, 2009

In the week during which the Obama administration will unveil details surrounding its plan to revamp the regulation of the U.S. financial sector, calls for increased oversight of the ETF industry are picking up steam as well. Scott Burns, director of ETF Analysis at Morningstar, recently laid out a case for increased regulatory requirements for ETFs [...]

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