Direxion, the second-largest issuer of inverse and leveraged exchange traded funds, is making another big addition to its leveraged stable today with the debut of four new ETFs.
Direxion is bolstering the size of its double-leveraged lineup with the addition of the Direxion Daily Cyber Security Bull 2X Shares (NYSEArca: HAKK) and the Direxion Daily Cyber Security Bear 2X Shares (NYSEArca: HAKD).
Those are the first leveraged cyber security ETFs to come to market and are designed to deliver double the daily performance, or in the case of the Direxion Daily Cyber Security Bear 2X Shares, double the daily inverse performance of the ISE Cyber Security Index, the same index followed by the wildly popular PureFunds ISE Cyber Security ETF (NYSEArca: HACK).
HACK’s index “tracks the performance of companies actively engaged in providing services for cyber security and for which cyber security business activities are a key driver of their business model. These cyber security services are designed to protect computer hardware, software, networks and data from unauthorized access, vulnerabilities, attacks and other security breaches,” according to PureFunds.
Direxion is also introducing the Direxion Daily Pharmaceutical & Medical Bull 2X Shares (NYSE: PILL) and the Direxion Daily Pharmaceutical & Medical Bear 2X Shares (NYSE: PILS). Those ETFs will follow the Dynamic Pharamaceuticals Intellidex Index, the same index tracked by the PowerShares Dynamic Pharmaceuticals Portfolio (NYSEArca: PJP).
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