Direxion Announces Reverse, Forward Splits for 16 ETFs

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Direxion, the second-largest sponsor of leveraged and inverse ETFs, said today it will reverse split eight of its leveraged funds while another eight will see more traditional share splits, also known as forward splits. The reverse splits will go into effect after the close of trading on Monday April 1. Among the funds that will be reverse split is the Direxion Daily Energy Bear 3X Shares
ERY
, which will undergo a 1-for-6 reverse split. The following Direxion ETFs will see 1-for-5 reverse splits: The Direxion Daily China Bear 3X Shares
YANG
, the Direxion Daily Emerging Markets 3X Bear Shares
EDZ
and the Direxion Daily Gold Miners Bull 3X Shares
NUGT
. In July 2012,
Benzinga predicted NUGT would be reverse split
. The Direxion Daily Financial Bear 3X Shares
FAZ
and the Direxion Daily Small Cap 3X Bear Shares
TZA
will be reverse split on a 1-for-4 basis. The Direxion Daily Mid Cap Bear 3X Shares
MIDZ
will undergo a 1-for-3 reverse split. Four Direxion ETFs will experience traditional splits on a 3-for-1 basis. Those funds are the Direxion Daily Financial Bull 3X Shares
FAS
, the Direxion Daily Retail Bull 3X Shares
RETL
, the Direxion Daily Emerging Markets 3X Bull Shares
EDC
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and the Direxion Daily S&P 500 Bull 3X Shares
SPXL
. The Direxion Daily Real Estate Bull 3X Shares
DRN
, the Direxion Daily Latin America Bull 3X Shares
LBJ
, the Direxion Daily 7-10 Year Treasury Bull 3X Shares
TYD
and the Direxion Daily Small Cap 3X Daily Shares
TNA
will undergo 2-for-1 forward splilts. The forward splits will also go into effect after the close of trading on April,
according to a statement issued by Direxion
. For more on ETFs, click
here
.
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Posted In: NewsSector ETFsBroad U.S. Equity ETFsSpecialty ETFsEmerging Market ETFsStock SplitHotAfter-Hours CenterMarketsETFsdirexion
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