On Thursday, Direxion launched the Direxion Daily Travel & Vacation Bull 2X Shares (OOTO) and the Direxion Daily 5G Communications Bull 2X Shares (TENG). The Funds seek to achieve 200% of the daily performance of the BlueStar® Travel and the Vacation Index and BlueStar® 5G Communications Index, respectively.
The BlueStar® Travel and Vacation Index provides exposure to global commercial airlines, hotels and resorts, resort casinos, travel agencies, online travel booking sites, hotel REITs, cruise lines, theme parks, and ski resorts.
The BlueStar® 5G Communications Index provides exposure to companies whose products and services are economically tied to the market’s adoption of 5G networking and communication technologies.
“2021 continues to offer opportunities for traders to take advantage of emerging trends, including the economic reopening boosting demand for travel and vacation, along with the growth of 5G networks,” said Dave Mazza, Managing Director at Direxion. “These Leveraged ETFs allow traders to take a bold position in two early-stage themes.”
Like all leveraged ETFs, these Direxion products are intended only for investors with an in-depth understanding of the risks associated with seeking leveraged investment results, and those who plan to actively monitor and manage their positions. There is no guarantee that these funds will meet their objective.
For more information, visit www.direxion.com.
This article originally appeared on ETFTrends.com.