Direxion, the second-largest issuer of inverse and leveraged exchange traded funds, said it will reverse split six of its ETFs, including three well-known gold miners funds.
The Direxion Daily Gold Miners Bull 3X Shares (NYSEArca: NUGT) will undergo a 1-for-10 reverse split while the Direxion Daily Junior Gold Miners Index Bull 3x Shares (NYSEArca: JNUG) will be reverse split on a 1-for-5 basis. The Direxion Daily Natural Gas Related Bull 3X (NYSEArca: GASL) will also be reverse split 1-for-5.
GASL was also reverse split 1-for-10 in May while JNUG was reverse split 1-for-10 in late 2014. [A Reverse Split for JNUG]
The Direxion Daily Financial Bear 3X Shares (NYSEArca: FAZ) and the Direxion Daily Small Cap Bear 3X Shares (NYSEArca: TZA) will also undergo 1-for-4 reverse splits.