Direxion Files Plans For Inverse Tech ETF (XLK, TYH, TYP) - Fundamentals First ETF Fundamentals First ETF (BATS:KNOW)

Direxion, which has been looking to add to its lineup of non-leveraged offerings, filed plans with the SEC for the Direxion Daily Technology 1X Bear Shares. The new fund will seek returns that are 100% inverse to the daily performance of the Technology Select Sector Index, the same index tracked by the Technology Select Sector SPDR

XLK

. The new Direxion fund will feature an expense ratio of 0.65%. Direxion has also

filed plans for a new 1x inverse fund tracking bank stocks

. When it comes to plays on the technology sector, Direxion currently sponsors the Direxion Daily Technology Bear 3X Shares

TYP

and the Direxion Daily Technology Bull 3X Shares

TYH

. The firm announced yesterday

that those funds will begin tracking the Technology Select Sector Index later this month and change their tickers to "TECS" and "TECL," respectively

. Those funds charge 0.95%. Direxion, the second-largest sponsor of inverse and leveraged funds, has been looking to expand its non-leveraged offerings. The firm has introduced the the NASDAQ-100 Equal Weighted Index ETF

QQQE

and the Direxion All Cap Insider Sentiment Shares

KNOW

, among others in the past year.

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