Direxion lists 2x leveraged S&P ETF

By Daniel O'Leary
28 May 2014

Fund provider Direxion has launched an exchange-traded fund that uses total return swaps to gain leveraged exposure to the S&P 500, with more similar ETFs expected this year.

The Direxion Daily S&P 500 Bull 2X Shares uses swaps to gain 2x leverage for the investor, according to Andy O’Rourke, managing director and chief marketing officer at the firm. The twice levered ETF is a departure from the firm’s usual triple-levered funds, he said. “The two times ...

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