Direxion to Close Two Leveraged Currency Hedged ETFs

Direxion, the second-largest issuer of inverse and leveraged exchange traded funds, is planning to shutter two of its leveraged currency hedged offerings.

The Direxion Daily MSCI Europe Currency Hedged Bull 2x Shares (NYSEArca: HEGE) and the Direxion Daily MSCI Japan Currency Hedged Bull 2x Shares (NYSEArca: HEGJ) will liquidate on May 27.

“Shareholders may sell their holdings in each Fund prior to the Closing Date and customary brokerage charges may apply to these transactions,” according to a Direxion filing with the Securities and Exchange Commission.

However, from May 23, 2016 through May 27, 2016 (the “Liquidation Date”), shareholders may be able to sell their shares only to certain broker-dealers and there is no assurance that there will be a market for each Fund’s shares during this time period, according to the filing.

Want more news on Currency-Hedged ETFs? Visit: www.etftrends.com/Currency