AMEX:FAZ   Direxion Financial Bear 3X Shares
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Direxion Shares ETF Trust - Direxion Daily Financial Bear 3X Shares is an exchange traded fund launched by Direxion Investments. The fund is managed by Rafferty Asset Management, LLC. It invests in public equity markets of the United States. It invests through derivatives and through other funds in stocks of companies operating across financials sectors. The fund employs short strategy and uses derivatives such as futures, swaps to create its portfolio. The fund invests in growth and value stocks of large-cap companies. It seeks to track -3x the daily performance of the Financials Select Sector Index. Direxion Shares ETF Trust - Direxion Daily Financial Bear 3X Shares was formed on November 6, 2008 and is domiciled in the United States.
The investment seeks daily investment results of 300% of the inverse (or opposite) of the daily performance of the Financials Select Sector Index. The fund invests at least 80% of its net assets (plus borrowing for investment purposes) in swap agreements, futures contracts, short positions or other financial instruments that provide inverse (opposite) or short daily exposure to the index or to ETFs that track the index. The index includes securities of companies from the following industries: Banks; Thrifts & Mortgage Finance; Diversified Financial Services; Consumer Finance; capital markets; Insurance; and Mortgage REITs. It is non-diversified. Benchmark: Financials Select Sector TR USD
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