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Direxion Changes the Name, Ticker and Advisor of Two ETFs

THIS POST WAS ORIGINALLY PUBLISHED ON THIS SITE Click Here To Read Entire Article

NEW YORK, Jan. 31, 2018 /PRNewswire/ — The Board of Trustees of the Direxion Shares ETF Trust (“Trust”) has approved changes to the names, tickers and investment advisor of the Direxion Daily S&P 500® Bull 1.25X Shares and the Direxion Daily Small Cap Bull 1.25X Shares (each a “Fund,” and collectively, the “Funds”). 

Effective February 15, 2018, each Fund’s name and ticker will change and all references to each Fund’s current name and current ticker in the respective Summary Prospectus, Prospectus and SAI will be replaced with the new name and new ticker as shown in the table below:

Current Fund Name

Current
Ticker

New Fund Name

New
Ticker

Direxion Daily S&P 500® Bull
1.25X Shares

LLSP

Portfolio+ S&P 500® ETF

PPLC

Direxion Daily Small Cap Bull
1.25X Shares

LLSC

Portfolio+ S&P® Small Cap ETF

PPSC

Effective February 15, 2018, Rafferty Asset Management, LLC (“Rafferty”), the current investment advisor for the Funds is replaced with Direxion Advisors, LLC (“Direxion”), a wholly owned subsidiary of Rafferty, and the new investment advisor for the Funds. Any and all references to Rafferty are replaced in their entirety with references to Direxion.

About Direxion:

Direxion builds bold products for investors who want more than the status quo. Our index-based products deliver directional options, magnified exposure, and long-term, rules-based strategies. Founded in 1997, the company has approximately $13.4 billion in assets under management as of December 31, 2017. Direxion’s diverse suite of products helps investors navigate today’s ever-changing markets. For more information, please visit www.direxioninvestments.com.

There is no guarantee that the Funds will achieve their investment objectives.

For more information on all Direxion Shares daily leveraged ETFs, go to direxioninvestments.com, or call us at 866.476.7523.

The ETFs are not suitable for all investors and should be utilized only by investors who understand the risks associated with seeking daily leveraged and inverse investment results, and intend to actively monitor and manage their investments. Due to the daily nature of the leveraged and inverse investment strategies employed, there is no guarantee of long-term inverse returns. Past performance is not indicative of future results.

An investor should consider the investment objectives, risks, charges, and expenses of Direxion ETFs carefully before investing. The prospectus and summary prospectus contains this and other

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