The triple-leveraged fund offerings from Direxion topped both the ETF winners and losers for second-quarter 2009. According to a recent Barron’s report, five out of the top 16 fund gainers in the second quarter belong to the Direxion family, including a more than 100% gain in its Emerging Market Bull 3X ETF (NYSEARCA:EDC). As a matter of a fact, the 52 week range on the Direxion Daily Emrg Mkts Bull 3X Shares spans $18-$103, and is currently trading at $87.
The Direxion Daily Emrg Mkts Bull 3X Shares seeks to replicate, net of expenses, 300% of the daily performance of the MSCI Emerging Markets Index The fund invests at least 80% of assets in securities that comprise the index. It also utilizes financial instruments that, in combination, provide leveraged and unleveraged exposure to the index. This particular 3X ETF is not getting any attention as it is not performing as wildly as the financial bull/bear ETF’s (FAS, FAZ), even though it is making investors a healthy return. We have included a 6 month chart to show this fund’s performance.
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