NYSE Euronext (NYX) today announced the listing of four Direxion Shares ETFs on NYSE Arca. The ETFs, which seek to provide three times the performance (or three times the inverse) of the daily performance of the indexes they are tied to, are the first Direxion Shares ETFs to list on NYSE Arca.
The Direxion Shares ETF Trust is a registered investment company offering a number of separate exchange-traded funds. The Funds seek to provide daily investment results, before fees and expenses, that correspond to the performance of a particular index or benchmark. The Funds with the word "Bull" in their name attempt to provide investment results that correlate positively to the return of an index or benchmark, meaning the Bull Funds attempt to move in the same direction as the target index or benchmark.
The Funds with the word "Bear" in their name attempt to provide investment results that correlate negatively to the return of an index or benchmark, meaning that the Bear Funds attempt to move in the opposite or inverse direction of the target index or benchmark. The correlations sought by the Bull Funds and the Bear Funds are generally a multiple of the returns of the target index or benchmark.
"We are thrilled to list the first Direxion Shares ETFs on NYSE Arca," said Lisa M. Dallmer, SVP, Global Index and Exchange Traded Products, NYSE Euronext. "Today's listing demonstrates NYSE Euronext's growing breadth of issuer relationships and commitment to bringing some of the most uniquely designed funds to market". -- www.nyse.com
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