Direxion Shares just released new leveraged bull and bear funds linked to Agribusiness and Russian stocks.
“Our new leveraged ETFs are the latest in Direxion’s growing line of tactical trading funds offering magnified benchmark exposure for investors who actively manage their trading positions,” said Direxion President Dan O’Neill. “The funds’ launch reinforces Direxion’s commitment to providing innovative investment products that enable sophisticated investors to take advantage of short-term market opportunities as part of their overall investment strategies.”
The four new Direxion Shares are:
- Direxion Daily Agribusiness Bear 3x Shares (NYSE: COWS)
- Direxion Daily Russia Bear 3x Shares (NYSE: RUSS)
- Direxion Daily Agribusiness Bull 3x Shares (NYSE: COWL)
- Direxion Daily Russia Bull 3x Shares (NYSE: RUSL)
COWS aims for triple daily inverse exposure to the DAXglobal Agribusiness Index while RUSS aims for the same goal but to the DAXglobal Russia+ Index.
COWL aims for triple daily performance linked to the DAXglobal Agribusiness Index while RUSL shoots for the same goal but to the DAXglobal Russia+ Index.
Other New ETF and ETN Offerings
The Global X Fertilizers/Potash ETF (NYSE: SOIL) which follows a global basket of publicly traded fertilizer producers was launched this week. SOIL tracks the Solactive Global Fertilizers/Potash Index and as of May 23, 2011, the three largest components of the index were CF Industries Holdings Inc. (NYSE: CF), Yara International ASA, and Incitec Pivot Ltd.
In related new product offerings, UBS introduced the ETRACS 2xLeveraged Long Wells Fargo Business Development Company ETN (NYSE: BDCL) which follows the Wells Fargo Business Development Company. BDCL is designed to pay a variable quarterly coupon linked to the leveraged cash distributions associated with the underlying Business Development Company constituents, less financing costs and annual investor fees of 0.85%.
In April, UBS launched the ETRACS Linked to the Wells Fargo Business Development Company Index ETN (NYSE: BDCS) which follows the same index.
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