Direxion Cuts Leverage on 10 Funds to 200%, Closes Eight Others
- Their exposure will be reduced from 300%, Direxion Says
- Firm says it’s also closing eight funds amid limited interest
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The historic volatility rattling global markets is making Direxion Shares cut the exposure of 10 leveraged funds.
Bullish products will now seek daily leveraged investment results, before fees and expenses, of 200% of their underlying indexes starting on May 19, according to a statement from the firm. That’s down from 300%. Meanwhile, bearish ones will cut their exposure to -200%. Direxion is also closing eight funds due to lack of interest.