Direxion to Shutter 3 ETFs

Direxion, the second-largest issuer of inverse and leveraged ETFs, will shutter three of its non-leveraged products that failed to attract adequate assets under management totals. Prior to the Direxion announcement, nearly 100 exchange-traded products had been closed this year, an industry record. Direxion will close the Direxion Large Cap Insider Sentiment Shares

, Direxion S&P 1500 DRRC Index Volatility Response Shares

and Direxion S&P Latin America 40 DRRC Index Volatility Response Shares

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. Those ETFs will liquidate next month. In September, Direxion closed nine of its leveraged ETFs inlcuding the Direxion Daily Basic Materials Bear 3X Shares, Direxion Daily BRIC Bull 3X Shares, Direxion Daily Latin America Bear 3X Shares

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