Direxion is set to launch two new leveraged ETFs

Wooden cubes building word ETF (abbreviation of Exchange Traded Fund) on light blue background
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  • Direxion is set to launch two new leveraged exchange traded funds today. The two ETFs are the Direxion Daily Travel & Vacation Bull 2X Shares (NYSEARCA:OOTO) and the Direxion Daily 5G Communications Bull 2X Shares (NYSEARCA:TENG).
  • OOTO tracks the BlueStar Travel and Vacation Index, which offers investors exposure to global commercial airlines, hotels, resort casinos, travel agencies, online travel booking sites, hotel REITs, cruise lines, theme parks and ski resorts.
  • TENG tracks the BlueStar 5G Communications Index, which offers market participants exposure to companies whose products and services are economically tied to the market's adoption of 5G networking and communication technologies.
  • OOTO has an overall sector weighting that favors the consumer discretionary space as the sector represents 54.30% of the ETF. Additionally, the fund comes with an expense ratio of 1.07%, and its top three holdings are Walt Disney, Booking Holdings Inc, and Marriott International. See complete fact sheet for OOTO.
  • TENG has an overall sector weighting that favors the information technology space, representing 74.68% of the ETF. Furthermore, the fund comes with an expense ratio of 1.07%, and its top three holdings are NXP Semiconductors NV, Analog Devices, and Telefonaktiebolaget LM Ericsson. See complete fact sheet for TENG.
  • Dave Mazza, Managing Director at Direxion, stated: "2021 continues to offer opportunities for traders to take advantage of emerging trends, including the economic reopening boosting demand for travel and vacation, along with the growth of 5G networks," he continued with "These Leveraged ETFs allow traders to take a bold position in two early-stage themes."
  • For investors that are involved with other leveraged ETFs such as (NASDAQ:TQQQ), (NYSEARCA:SOXL), and (NYSEARCA:SPXL) may also be interested in learning about OOTO and TENG.
  • In other ETF-related news, Invesco has filed paperwork on a preliminary prospectus with the U.S. Securities Exchange Commission to launch two new crypto ETFs.

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