Reverse Splits Coming for 6 Direxion ETF

Direxion, the eleventh-largest U.S. ETF sponsor, announced reverse splits for six of its popular triple-leveraged ETFs. The Direxion Daily Real Estate 3X Bear Shares

, Direxion Daily Emerging Markets Bull 3x Shares

, Direxion Daily Financial Bull 3x Shares

, Direxion Daily Latin America Bull 3x Shares

, and Direxion Daily 20+ Year Treasury Bear 3x Shares

will be reverse split on a 1-for-5 basis. The Direxion Daily Russia Bull 3X Shares

will be reverse split on a 1-for-3 basis. All of the splits will go into effect after the market closes on Wednesday Nov. 9. Direxion had 51 ETFs with $6.7 billion in assets under management at the end of September, according to data from the National Stock Exchange.