In just the past week, EURL has surged 8.1%. Over the five-day period ending Wednesday, EURL’s average volume soared to 87.1% above the trailing 20-day average, according to Direxion data. That was the biggest jump in volume over that period for any leveraged Direxion ETF except for the Direxion Daily Gold Bull 3X Shares (NYSEArca: BAR).
EURL, which debuted in January 2014, attempts to deliver three times the daily performance of the FTSE Developed Europe Index. The FTSE Developed Europe Index is the underlying index for the wildly popular Vanguard FTSE Europe ETF (NYSEArca: VGK).
That is important fact for investors to remember because the FTSE Developed Europe Index is not a dedicated Eurozone index. Rather, that index features significant exposure to British, Nordic and Swiss equities. [Leveraged Europe ETF Moves Higher Ahead of ECB]