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Direxion Switches to S&P Indices for 8 ETFs

Direxion Switches to S&P Indices for 8 ETFs
June 29, 2012

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 (NYSEArca: BGU) was renamed the Direxion Daily S&P 500 Bull 3X Shares (NYSEArca: SPXL) and the Direxion Daily Large Cap Bear 3X (NYSEArca: BGZ) Shares was renamed the Direxion Daily S&P 500 Bear 3X Shares (NYSEArca: SPXS).

“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