Direxion Investments launches 2x Leveraged S&P 500 Bull ETF

New Fund Offers Choice in the 2X Leveraged Space at a Reduced Expense Level…

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Direxion Investments, an ally for both strategic and tactical investors seeking to solve for better investment outcomes, announced the launch of the new Direxion Daily S&P 500 2X Shares ETF (Ticker: SPUU). The Fund is leveraged and seeks 200% of the daily performance of the S&P 500 index. 

Fund Details:

 “Our clients have told us that they are looking for precise, efficient exposure to the equity markets, at a reasonable cost, and that they would like more options to choose from when they make these selections,” said Brian Jacobs, President, Direxion Investments. “We are pleased to respond to our client’s needs by launching the new 2X S&P 500 ETF, especially when we can offer it at an expense ratio that’s lower than other leveraged ETFs,” Jacobs continued. The Direxion Daily S&P 500 2X Shares has a net expense ratio of 0.60%*, and will be initially seeded with $28 million. The Fund gives sophisticated traders choices when they are looking to gain leveraged exposure to the S&P 500 index.

As with all leveraged ETFs, this Direxion Shares ETF is intended for use only by sophisticated investors who understand the risks associated with seeking daily leveraged investment results and plan to actively monitor and manage their positions in the funds. There is no guarantee that the fund will achieve its objective.

“We will monitor the adoption of this product and continue to speak to our clients about their product needs. We strive to continue to innovate and evolve our suite of index-based products.” said Mr. Jacobs.

Source: ETFWorld.com