Direxion Filed For Auto ETF, Several More 3x ETFs
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12:28:34 am on June 3, 2010

Direxion Funds doesn’t have a long history as a provider of ETFs, but it quickly became a big player in the industry by offering some of the most popular ETF’s around – the 3x leveraged ETFs.  It initially launched with just a few offerings in financials, energy, small caps and large caps, but has since expanded to include technology, treasuries, emerging markets and real estate.

Back in April, they filed with the SEC to launch many more 3x leveraged ETF’s as well as a two non-leveraged ETF’s for the auto and airline parts industries.  Should the Auto ETF begin trading, it would be the first ETF to cover the auto industry. 

The new 3x leveraged ETF’s would include 8 pairs of bull/bear ETF’s covering international markets such as Brazil, Canada and Russian while 9 others will be industry specific covering agribusiness, commodity producers, infrastructure, gold miners, home construction, natural gas, regional banks, water, and wind energy.

None of the proposed ETF’s have begun trading at the time of this writing.

 

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