Direxion Daily META Bear 1X ETF (METD) Stock Price, Quote, News & History | Benzinga

The Fund will attempt to achieve its investment objective without regard to overall market movement or the increase or decrease of the value of META. At the close of the markets each trading day, the Adviser rebalances the Funds portfolio so that its exposure to META is consistent with the Funds investment objective. The impact of METAs price movements during the day will affect whether the Funds portfolio needs to be rebalanced. For example, if the price of META has fallen on a given day, net assets of the Fund should rise, meaning that the Funds exposure will need to be increased. Conversely, if the price of META has risen on a given day, net assets of the Fund should fall, meaning the Funds exposure will need to be reduced. This daily rebalancing typically results in high portfolio turnover. On a day-to-day basis, the Fund is expected to hold money market funds, deposit accounts with institutions with high quality (investment grade) credit ratings, or short-term debt instruments that have terms-to-maturity of less than 397 days and exhibit high quality (investment grade) credit profiles, including U.S. government securities and repurchase agreements.