Direxion, the second-largest issuer of inverse and leveraged exchange traded funds, said Monday it will reverse split eight of its leveraged ETFs. The issuer added that it plans to forward split two of its other geared ETFs.
In a statement out Monday, Direxion said it will reverse split the following ETFs: The Direxion Daily S&P Oil & Gas Exploration & Production Bull Shares (NYSEArca: GUSH), Direxion Daily S&P Biotech Bull Shares (NYSEArca: LABU), Direxion Daily Brazil Bull 3x Shares (NYSEArca; BRZU), Direxion Daily Natural Gas Related Bull 3X (NYSEArca: GASL), Direxion Daily India Bull 3X Shares (NYSEArca: INDL), Direxion Daily Latin America Bull 3x Shares (NYSEArca: LBJ), Direxion Daily Russia Bull 3x Shares (NYSEArca: RUSL) and the Direxion Daily Emerging Markets Bull 3X Shares (NYSEArca: EDC).
GASL and GUSH will be reverse split 1-for-10 while the other ETFs will undergo 1-for-4 reverse splits. The ETFs will begin trading on a split-adjusted basis on March 24, 2016.
Direxion will forward split the Direxion Daily FTSE China Bear 3X Shares (NYSEArca: YANG) and the Direxion Daily S&P Oil & Gas Exploration & Production Bear Shares (NYSEArca: DRIP) on a 4-for-1 basis.
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