Direxion, best known for its 300% leveraged and inverse exchange traded funds, plans to launch a master limited partnership product that would join a growing lineup of MLP ETFs.
The firm has filed an initial prospectus with the SEC for Direxion Zacks High Income MLP Shares.
It would be Direxion’s first ETF devoted to master limited partnerships, Morningstar reports.
The asset class has grown popular with investors seeking extra yield and some diversification benefits. [Master Limited Partnership ETF]