Direxion Reverse-Splits 6 ETFs

By
November 10, 2011
Share:


Direxion, the Newton, Mass.-based money manager known for its triple-exposure ETFs, completed reverse stock splits effective today on six of the company’s funds, according to the New York Stock Exchange.

The Big Board, reaffirming what Direxion announced last month, said five funds will be one-for-five splits. The affected securities are:

  • Direxion Daily Financial Bull 3X Shares (NYSEArca: FAS)
  • Direxion Daily Emerging Markets Bull 3X Shares (NYSEArca: EDC)
  • Direxion Daily 20+Year Treasury (NYSEArca: TMV)
  • Direxion Daily Real Estate Bear 3X Shares (NYSEArca: DRV)
  • Direxion Daily Latin America Bull 3X Shares (NYSEArca: LBJ)

 

The sixth will be a one-for-three reverse split on the Direxion Daily Russia Bull 3X Shares (NYSEArca: RUSL).

Direxion said last month when it first announced the reverse splits that the total market value of each ETF won’t be affected by the actions. However, fractional shares resulting from the reverse splits will be redeemed.

The funds’ primary listing is on Arca, the NYSE’s electronic trading platform. The NYSE made public the reverse splits in a Nov. 9 e-mail.

 

ETF.COM CHANNELS

Learn why commodity ETFs are an essential part of a diversified portfolio with our Commodity ETFs channel.

Learn why bond ETFs are an essential part of a diversified portfolio with our bond ETF channel.

ETF DAILY DATA

The ETF tracking the Dow Jones industrial average was the inflows leader on Thursday, Feb. 4.

ETF issuers saw little movement in their asset totals on Thursday, Feb. 4.

ETF.COM ANALYST BLOGS

By Matt Hougan

Here's why you should attend the largest ETF conference in the world next month.

By Dave Nadig

Barclays built in a premium to this exchange-traded note, so back away.

By Sumit Roy

Why this probably isn't the start of a bear market.

By Dave Nadig

Many challenges ahead for the rapidly growing industry.

ETF INDUSTRY PERSPECTIVE

By Heidi Richardson

Opportunities in Germany and the eurozone.

By Shirish Malekar

How to protect your portfolio with liquid alts.